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Poland became richer than Portugal in 2019

30 years after the end of communism, Poland has overtaken Portugal in terms of GDP per person

editor: REMIX NEWS
author: Onet/PAP
via: onet.pl

According to IMF figures for 2019, Poland is now wealthier than Portugal.

The IMF report indicates that Poland’s GDP per capita has surpassed that of Portugal’s, marking a major turning point for Poland 30 years after communism fell in the country.

Like other Central European states, Poland is closing the gap on Southern and Western Europe fast.

Polish GDP per capita in terms of domestic purchasing power parity (PPP) increased in 2019 to $33,891, slightly ahead of Portugal, which stood at $33,665.

This gap is likely to widen this year, as Poland’s economy is set to grow at over 3 percent whereas the Portuguese economy is predicted to grow by only 1.6 percent.

Portugal is the second Western European country Poland has surpassed after it overtook Greece in 2016.

According to experts, Poland is likely to pass Italy in the same statistics within a decade if no unforeseen events take place in the coming years.

Hungary, which had the EU’s fastest growing economy last year at 4.9 percent, also passed Portugal in the 2019 statistics for GDP per capita (PPP).

The Czech Republic, which has a GDP per capita of $38,800, has narrowed the distance with Italy, which has a GDP per person of $40,400.

Last year, Italy fell behind Spain’s GDP per capita, which was $41,600 per person.