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The Czech Republic is by far the most successful in fighting against poverty across EU member states

There is a general downward trend in the share of persons at risk of poverty and social inclusion within the European Union

  • October 19, 2018 14:30
  • Author Aseniya Dimitrova
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Source: Pixabay

A news release has been issued by the European Union statistical office, on the occasion of the International Day for the Eradication of Poverty – the 17th of October. It proofs that the EU advances towards the goal of the Europe 2020 strategy, where a key factor is reducing the poverty and increasing social inclusion by at least 20 million people falling in this category.

The Czech Republic is the EU champion, where the risk of poverty and social inclusion accounts to around 12.2% in 2018. For reference, the indicator was 15.3% of the total population in 2008. Czechia outruns Finland by more than 3.5%, Slovakia is with 16.3% share and the numbers increase in other member states, until the peak of 38.9% in Bulgaria, 35.7% in Romania and 34.8% in Greece.

Regardless of the positive supranational trend, there are still about 1 in 6 people in the EU at risk of income poverty, 1 in every 14 is materially deprived and 1 in 11 is living in a household with very low work intensity, reports Eurostat. These are the 3 components of the indicator.  The “at risk of poverty rate” is the share of people whose total household income (after social transfers, tax and other deductions), available for spending or saving, is below the “at risk of poverty threshold”, which is set at 60% of the national median equivalised disposable income after social transfers. It does not refer to wealth or absolute poverty but to low income in comparison to other residents in that country.

Source: Eurostat