Poles poorer than many neighbors but still putting money in the bank

Savings of Polish households are expected to increase by one-third and reach zł.586 billion by 2007, according to the chief economist of Pekao, Andrzej Bratkowski. This year individuals' financial assets are expected increase to zł.441 billion from zł.410 billion, partly as a result of the accelerating economy and EU accession. The structure of savings will also change from bank deposits and individual purchase of stock and bonds towards pension funds and insurance polices. Experts from UniCredito estimate that the average Polish citizen currently has EUR 2,283 in savings. This means he is wealthier than a Romanian, Bulgarian or Lithuanian, but poorer than the Slovaks, Hungarians and Czechs. Despite the "new" EU members representing half the number of citizens in the "old" EU, they control a mere 5% of its savings. (Parkiet, p. 9) M.M.