Saturday, January 03, 2009

Poland will take half a century to catch up with the West

According to the latest data published by Eurostat, Poland will need 55 years to catch up with the standard of living in Germany.

In 2008, a Pole could afford only 55 percent of what an average EU citizen could. This is the worst result in the EU, with the exception of Romania and Bulgaria. The study shows that in 1997 the standard of living in Poland amounted to 47 percent of the EU average, meaning that Poland is catching up only 1 percent a year.

The data also reveals that one of the most significant factors hindering development is unemployment. The report states that only 57 percent of those aged up to 65 actually work.