Friday, June 2, 2023
"After the fall of the Iron Curtain, the Poles were the first former Soviet country to restore democracy, free markets and the rule of law. Yet they still had a mountain to climb. In 1989, Polish workers had a GDP per capita that was just a tenth of their German counterparts.
Three decades of steady growth has wrought a miracle. The economic disparities have narrowed dramatically. Adjusted for purchasing parity, GDP per head in Poland is now £28,200 compared with £35,000 in the UK, £34,200 in France and £39,800 in Germany. At its current trajectory rate, Poland will overtake the UK by 2030.
Since the millennium, Poland’s real GDP per capita has more than doubled; by contrast, GDP per capita in Britain, France and Germany grew between 15pc and 24pc over the same period.
The truth is that living standards in places like Warsaw or Wrocław are already comparable to those in Berlin, Paris and London.
Indeed, the quality of life for young families is undoubtedly higher."
Link to article here.
Thursday, June 1, 2023