Poland: Real Wages are Falling

Business › Economy ♦ Published: October 29, 2012; 19:11 ♦ (Vindobona)

Due to the persistently high inflation rate, real wages have fallen for the first time in 20 years.

Poland: Real Wages are Falling / Picture: © Flickr

In the first three quarters of 2012, nominal wages were up by 3.6%. Real wages decreased by 0.6%, however. As a result, the Polish life standard went down for the first time since 1992.

Today, EBRD (European Bank of Reconstruction and Development) has revised its forecasts on Poland. The GDP growth forecast was lowered. This year, Poland´s GDP is expected to grow by 2.5%. Next…

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