The Czech Republic Has the Lowest Poverty Risk in the EU

According to the European Statistical Office Eurostat data for the previous year, the Czech Republic has the smallest proportion of people at risk of poverty or social exclusion in the European Union. However, economists warn that the situation might not be as rosy as the statistics suggest, pointing out certain distortions in the data.

Last year, 94.6 million people, or 21.4% of the EU population, were at risk of poverty or social exclusion. This means that these individuals lived in households with at least one of the following three risks of poverty and social exclusion: risk of poverty, severe material, and social deprivation, or life in a household with a very low work intensity, as reported by Eurostat on Wednesday.

The worst situations were recorded in Romania and Bulgaria, where nearly a third of the population was at risk. Conversely, the lowest proportion in the EU was recorded in the Czech Republic, at a flat 12%, followed by Slovenia (14%), Finland and Poland (16%).

Interestingly, this risk was more frequently associated with women than men and more often young adults than the elderly. Education also played a significant role, with people with lower levels of education being at a higher risk. Unemployed individuals were particularly at risk.

However, the main economist of the Cyrrus company, Vít Hradil, points out that the statistics somewhat flatter the Czech Republic. The low unemployment rate, the lowest in the EU, is likely the country’s only objective advantage, and it lowers the proportion of people at risk of poverty compared to the EU average. Meanwhile, the statistics seem distorted in several respects.

In conclusion, it’s important to note that while the Czech Republic has the lowest proportion of people at risk of poverty in the EU, this doesn’t necessarily mean that the standard of living is the highest. It’s crucial to understand the nuances of these statistics and the real-world implications they signify.