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Poland will take half a century to catch up with the West [240]
According to the latest data published by Eurostat, Poland will need 55 years to catch up with the standard of living in Germany.
In 2008, a Pole could afford only 55 percent of what an average EU citizen could. This is the worst result in the EU, with the exception of Romania and Bulgaria. The study shows that in 1997 the standard of living in Poland amounted to 47 percent of the EU average, meaning that Poland is catching up only 1 percent a year.
The data also reveals that one of the most significant factors hindering development is unemployment. The report states that only 57 percent of those aged up to 65 actually work.
Oh, dear, basic maths is obviously not that journalists forte.
Compound interest, with Poland having a 5% higher growth rate than, say Germany, will require only 13 years to catch up. Also, in the early years Poland presumably had a slower rate of growth than it currently has.
One of the worst in the [b]developed[/b ]world
Development: US fails to measure up on 'human index'
· Nation slumps from 2nd to 12th in global table
· Richest fifth take home $168,000, poorest $11,000
* Ashley Seager
* The Guardian, Thursday 17 July 2008
* Article history
guardian.co.uk/society/2008/jul/17/internationalaidanddevelopment.usa
