Survey reveals that Hungarian standard of living is at the bottom of the EU
Many experts believe it is possible to measure the standard of living of a country’s residents by looking at the level of actual individual consumption (AIC). Based on this, Hungary is at the bottom of the European Union.
There are several indicators and data on economic prosperity. The best known economic indicator is gross domestic product (GDP). Although GDP is an important measure, experts say it is not the way to show the prosperity of a country’s economy. According to the European Statistical Office, actual individual consumption (AIC) is the best measure.
This figure shows how many goods and services are actually consumed by a given household. The AIC includes consumer goods and services purchased directly by households, as well as weighted services provided by non-profit institutions and governments, such as health and education, writes penzcentrum.hu.
The AIC shows how good the quality of public services the government provides to residents is.
Eurostat has prepared its 2020 estimate for EU countries. Eurostat uses price per share (PPS) for this purpose, which is an artificially created common conversion base. This will eliminate the differences between countries’ currencies. As a result, the much-heard, higher salary and more expensive livelihoods lose their significance. In the 27 Member States of the EU, individual consumption ranges from 61 to 131 per cent in PPS. The EU average is 100 per cent.
Luxembourg reached the highest level. Here, people live 31 per cent better than the EU average. Germany and Denmark come after Luxembourg. There were a further 6 countries where AIC was above the EU average. In 13 EU Member States, individual consumption ranged from 75 to 100 per cent. Italy, Ireland, Greece, and Romania also fall into this category.
Hungary is at the bottom of welfare statistics.
Actual per capita consumption is 31 per cent lower than the EU average. Only in Croatia and Bulgaria is the welfare of households worse. The Hungarian data has improved somewhat in the last decade, but in comparison, we are still at the bottom of the EU ranking.
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Source: penzcentrum.hu, bbj.hu
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10 Comments
The BIG 6 – opposition parties – lined up to – BOMBARD – the present Government – with a platform of policies – that will “shame and blame the present Government of Hungary – must include increasing Social Equality in Hungary.
Fidesz – this decade plus in Government – have GROW – this malignant trend in the society of Hungary.
The opposition parties will fail in their attempt – to remove this present Government – if they do not have Social Equality – it’s widening in Hungary – the rich get richer and the poor get poorer – as a major platform policy.
The standard of living HAS improved exponentially over the last ten years in Hungary.
Having lived in several different ‘Western’ countries, I can see the huge improvement that has taken place in this country since Viktor Orban became Prime Minister (again) a decade ago.
Since we have shaken off the SOCIALIST type of destructive leaders – such as GyurcsĂ¡ny – things have gotten better and will continue to do so BUT ONLY under a Fidesz-led Government.
There is no doubt in my mind that most Hungarians agree with this assessment.
“BENEDICERE” – DO NOT TRY TO CREATE ‘MURKY WATERS’ SO THAT YOU CAN ‘FISH’ FROM YOUR MONASTERY. DO NOT HINDER US WITH YOUR NONSENSE AND MESSY POLITICAL MACHINATIONS.
IN OTHER WORDS, MIND YOUR OWN BUSINESS. HINT : SPEND A BIT MORE TIME IN PRAYER – IT WILL DO YOU THE WORLD OF GOOD !
Another “success story” for victorinus. He must be very proud of it.
Good thing the EU is sending us tonnes of cash, every year, to stimulate our economy! FACT – our annual GDP growth has been around the EU cash grant number for years…
There are several indicators and data on economic prosperity.
if that were the case,, USA,, would be heaven ,but it is HELL ,
go out at night in the wrong place ,to get a ,,burger ??? and you are shot or worse ,
or rich central London , you get shouted at ..and beaten ..just for being the only ,WHITE ,
TRY IT ,see has FAST you run back, here to !!!safe sanity ,!!!
The quality of living has to be near the top- in the last 2 years it seems like areas of the city are being neglected.
The story is not true. The article did not mention that the standard living of senior in Germany has drastically decreased.
denisf – what you said about London is complete and utter rubbish.
If you ask the rich Hungarians they will tell you, LIFE IS BETTER WITH FIDEZ. If your not one of them yet either figure out how to get there or get out. This country is for rich people not the poor complainers.
What happened to living frugally and leaving a smaller footprint on the earth. Buying less stuff conserves natural resources and uses less energy which creates less pollution. Since when is consumption the way to true happiness. Consumption for the sake of consumption is akin to gluttony, a sin. Standard of living is determined by more than just consumption.