“Poland is in ruins!” Anyone hearing this slogan in the summer of 2015 might have been excused for feeling somewhat surprised. The economy was booming, with GDP growth at 3.6% (up from 3.3% the year before), unemployment had fallen into single digits for the first time in years, and its Gini coefficient was declining. All of this with a budget deficit of 1.8% of GDP (Spain: 5.10%), and public debt stable at 43.3% of GDP (Spain: almost 100%). True, GDP PPP (purchasing power parity) per capita was still only $26,210 (Spain: $34,899; EU average: $35,385) – but when the country …read more
Source: CIDOB
