POLAND has leapfrogged Spain in per-capita income, a milestone hailed by the Polish Prime Minister as proof the country is joining ‘Europe’s economic elite’.
According to IMF forecasts, Poland’s per?capita income measured in purchasing power parity (PPP) has inched ahead of Spain’s, with Poland at around €49,650 last year compared with Spain’s €49,465
PPP adjusts for cost?of?living differences and is a commonly used to compare standards of living between countries.
This shift reflects faster economic growth in Poland, with GDP expected to grow by about 3.6% this year versus around 2.8% in Spain, helping Warsaw to surpass Madrid.
Poland is also closing in on the UK, already reaching 87% of its per?capita income.
At this pace, government estimates say Poland could be on equal footing with the UK in just five or six years.
Polish PM, Donald Tusk, took to social media to celebrate the economic milestone, greeting his followers in Spanish.
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He said it proved Poland was part of ‘Europe’s economic elite’.
However, economists warn that PPP income tells only part of the story.
While it highlights Poland’s rapid rise in living standards, it doesn’t account for pensions, healthcare, or property ownership.
Poland’s economic climb also comes with a catch: rising public debt.
EU forecasts warn it could top 100% of GDP by the mid?2030s, a trend that has analysts concerned, even if it’s not yet at crisis levels.
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