The IMF says that Poland’s per capita income last year, when adjusted for purchasing power parity (PPP), was about €49,650. PPP-adjusted per capita income takes into account variances in the cost of living to give a more realistic picture of living standards.
The main reason for the disparity is that the Polish economy is growing faster. Poland’s GDP is predicted to rise by about 3.6%, while Spain’s GDP is expected to rise by 2.8%. Donald Tusk, the Prime Minister of Poland, said that the numbers showed that Poland was becoming part of the “European economic elite.” He also said that Poland had “surpassed Spain” in this vital area.
According to IMF forecasts, Poland’s per capita income in PPP terms is already about 87% of the UK’s. Ten years ago, it would have appeared impossible for this to happen. If things keep going the way they are now, the Polish government thinks that Poland could catch up to the UK in the next five or six years.
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