Poland will take 21 years to catch up with neighbouring Germany in terms of GDP per capita if current economic growth trends continue, according to a new report.
The study by the Warsaw School of Economics found that Poland needs 14 years to reach the average GDP per capita of the 15 “old” EU countries. Poland has already overtaken Greece in terms of GDP per capita, and will probably move ahead of Portugal by the end of this year, public broadcaster Polish Radio’s IAR news agency reported.
The study argued that Poland needs to stimulate its economy through investment rather than relying on consumption, according to IAR. The Polish economy grew 4.5 percent in the second quarter of this year, the country’s Central Statistical Office (GUS) said at the end of last month.
Prime Minister Mateusz Morawiecki said in mid-August that Poland ranked among the fastest-growing economies in Europe and worldwide.
The report by the Warsaw School of Economics was drawn up for the Krynica Economic Forum, which started on Tuesday in the southern Polish resort town of Krynica-Zdrój.
The annual meeting, which lasts three days, is billed as the largest conference of its kind in Central and Eastern Europe and draws political and economic decision makers from around the world.