Poland may catch up with Germany in terms of wealth in 2051
15:27
In 2018-2022, Poland was catching up with Germany in terms of wealth at a record pace, but it will still take until 2051 to become as rich as Germany, according to the Warsaw Enterprise Institute's "Opening Balance" report.
In 2018-2022, the pace of catching up with Germany averaged 2 percentage points per year, much faster than in the second half of the 1990s, when it was 1.4 percentage points per year. However, the authors of the report expect that Poland will be catching up with Germany more and more slowly.
As WEI points out, there are countries in the EU that are developing faster than Poland, and there are dozens of "faster" countries in the world. According to the Institute, the quality of governance has been declining in recent years.
On the bright side, Poland may join the 20 largest economies in the world by 2043, if its economic policy goes in the right direction. For several years, Poland has been ranked 23rd in the world.
