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Indicator – Economy – Hungarian families are the second poorest in the European Union

Indicator – Economy – Hungarian families are the second poorest in the European Union

According to recently published Eurostat data, only Bulgarians in the region spend less than us, and we reach three-quarters of the EU average in terms of consumption, although our purchasing power has increased slightly, by 2 percent, compared to last year.

In 2022, Romania has already overtaken Hungary in terms of per capita consumption – evidenced by adjusted purchasing power parity data from Eurostat, which people talk communication. According to the 2021 data, Hungarians’ spending amounted to 70 percent of the EU average, and according to the 2022 total, this value has already increased by two percentage points. With this, among the member states, only the Bulgarians’ purchasing power is weaker than ours, they reached 67 percent of the average EU consumption last year.

We are almost at the same level as the Slovaks. Compared to the regional average, the population’s spending in 2022 was estimated at 73 percent, followed by Croatia at 75 percent, and then Greece at 78 percent. Among the V4, the Czech Republic was the second best performer with 83 percent, and Poland was first in the Visegrad collaboration with 88 percent. Surprisingly, last year the spending of Romanians was on the same level as that of the Poles.

In the European Union, Luxembourg remains at the top, outperforming the regional average consumption by 38 percent, to 138 percentage points in last year’s total. Germany ranks second on the list, with per capita consumption at 119 percent compared to the EU average, followed by Austria at 118 percent. The newspaper calculated that if the increase in the purchasing power of the Hungarian population remains at 2 percent, we will catch up with the Austrians in 9 years, while it will take 14 years to reach the EU average. Among the countries of the former Soviet Union, Lithuania is an outstanding performer, with per capita consumption almost equal to the EU average, at 95%.

(Cover photo: Kata Nemeth / Index)