According to a report released yesterday by Eurostat, Poland has caught up to Hungary in terms of per capita GDP. At EUR 6800 per head, both countries are now tied for 23rd place among the 28 European Union Member States. The Czech Republic (EUR 8400) and Slovakia (EUR 76oo), comprising the other two so-called Visegrad Four countries, are ranked 16th and 19th, respectively.
Hungary also has the fourth-lowest AIC (actual individual consumption) in the EU, behind Greece but ahead of Romania, Bulgaria and Croatia.
Hungary is only 68 percent as developed as the European Union average when it comes to per capita GDP, ahead of only Bulgaria (45 percent), Romania (54 percent), Croatia (59 pecent) and Latvia (64 percent). Countries such as Estonia, Slovakia and Lithuania have pulled ahead of Hungary in recent years. Both Poland and Latvia have stronger mid-term growth ahead of them than Hungary.
Eurostat data on actual individual consumption (which is linked to GDP per capita and indicative of quality of life) shows that Hungary has the fourth-lowest AIC in the European Union. Hungary’s AIC is at 62 percent of the EU average, primarily due to high levels of household debt.
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