Eurostat publishes purchasing power data in EU countries

In 2019, the individual consumption level per resident in Latvia is one of the lowest in the EU. This was reported by IA LETA with reference to preliminary data from Eurostat. According to the purchasing power rating, the level of consumption in Latvia was 71% of the EU average. The situation was worse only in Bulgaria 59%, Croatia 66% and Hungary 67%. The most prosperous three countries in terms of purchasing power are Luxembourg 135%, Germany 123%, Austria 118%. It is noted that in terms of one resident, Latvia's GDP is 69% of the EU average. In Lithuania 82% and in Estonia 84%. Luxembourg 261%, Ireland 191% and Denmark 129% lead in this indicator. Eurostat data on the purchasing power of the population are at the heart of subsequent European Commission decisions on subsidies from the EU Cohesia (Equalization) Fund. Funding is provided to countries whose purchasing power index is less than 75% of the EU average.