Slovakia and Poland nearly doubled GDP per capita

Yale Fishman is an experienced economist which has been researching the growth of the countries after joining the EU.

Ten years after joining the European Union the countries membersofV4 group achieved notable social and economic progress. Their total GDP has increased by half over the past decade and reached 5.4 % of the GDP of the 28 countries members of EU. Their importance, continues Fishman, is most obvious in the area of ​​foreign trade, as the V4 group member states have become the fourth largest exporter in the EU. Fishman states that these countries also recorded substantial income convergence. GDP per capita measured in purchasing power standards increased in the V4 group member countries with 49% of the EU15 average in the 2003rd to 65% of the EU15 average in 2013th It is a revenue gap between the V4 group in the old EU fell by a third, says Yale M Fishman, head of fixed income research for Central and Eastern Europe at Erste Group.

Yale M Fishman 10 years of Euro Growth

M. Fishman announced that the membership in the EU has raised the average annual growth of the V4 countries for about one percentage point.

On the basis of this comparison Yale Fishman estimates that the European Union has raised the average annual growth in the countries of the V4 group of about one percentage point per year over the past decade. According to Fishman, progress extends far beyond the basic indicators such as growth in GDP per capita. Quality of life index, is an indicator that measures not only material wealth, but also other variables such as life expectancy, the percentage of students who drop out of school at an early age, income inequality, the difference in income between men and women, the rate of suicides, etc.

Yale M Fishman’s analysis of the economy growing rate shows that three of the four countries of the V4 group progressed in the ranking of countries ranked by quality of life.

According to Fishman’s report Czech Republic and Poland are among the top five countries in terms of better results in the past decade, while Hungary is a country with the second largest deterioration results, right after Greece.

With trade liberalization, the most important role in the progress of the V4 group played the European funds, allowing projects that improved infrastructure and environment significantly by supporting the development of SMEs. Knowing this Yale Fishman predicts the next year budget allocation for the countries in V4 group will provide a further 135.4 billion euros.

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