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    Polish purchasing power gains ground, nearing EU average

    Polish citizens appear to be closing in on the EU average in terms of purchasing power, according to the head of the Polish Economic Institute.

    On Thursday, Arak shared on Twitter that the purchasing power of Poles had reached 79 per cent of the EU average.

    Poland at 79 per cent of European average in GDP per capita, PPS (Purchasing Power Standard – ed.). We are slowly catching up with Spain,” Piotr Arak, head of the Polish Economic Institute, wrote on Twitter on Thursday.

    Eurostat’s flash purchasing power parity (PPP) and GDP estimates for 2022 rank Poland ninth from the bottom and Spain tenth in terms of PPS.

    Meanwhile, Luxembourg and Ireland ranked highest in terms of non-PPS-adjusted GDP per capita, with 161% and 134% of the EU average respectively. Bulgaria, Slovakia, and Greece occupied the opposite end of the spectrum. Their GDP per capita was 41%, 33%, and 32% lower than the EU average, respectively.

    As Poland continues to experience economic growth, the country is slowly bridging the gap with its western European peers. The strong economic performance has been driven by increases in domestic consumption and investment, as well as higher exports. Poland’s Gross Domestic Product (GDP) is expected to continue its upward trend in 2023.

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