Eurostat has released new data on GDP per capita in PPS. How does Poland’s purchasing power compare to that of other countries, and when will it reach the EU average?
Back in 2004, Poland's GDP per capita in PPS stood at 51.5% of the EU average, marking it as the third-lowest among EU member states. However, subsequent years witnessed a robust growth of the Polish economy, which narrowed the gap with more affluent nations. In 2016, Poland had surpassed Greece, in 2018 - Slovakia, and in 2020 - Portugal (although Portugal regained its position over Poland in 2023).
As of 2023, Poland's purchasing power per capita has reached 80% of the EU average, showing an increase from 79% recorded in the previous year. By comparison, Finland's figure stands at 108%, a decrease from 110% reported in 2022.
In terms of regional GDP in PPS per inhabitant (2022), it is worth mentioning that the Warsaw region has a higher figure than, among others, areas including Stockholm, Vienna, Berlin, Madrid and, since 2015, Helsinki.
What’s next for the Polish economy? According to a recent report by Credit Agricole, Poland's GDP per capita in PPS is projected to reach the EU average within the upcoming decade (99.6% in 2033). In the next four years, Poland is expected to surpass Spain and, in the early 2030s, Italy and France, achieving 90% of Germany's GDP per capita.
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