Cost of raising kids soars in Poland

The average cost of raising a child until the age of 18 has risen by at least PLN EUR 2,300 year-to-year in Poland.

A report published by the Adam Smith Center think-tank indicates that the cost of raising a child until the age of 18 in Poland has risen by over EUR 2,300 this year to EUR 44-49,000 in 2018.

As one of the authors of the report indicates, the costs have gone up partly because Poles have more means than a year ago.

This can be explained by the continuing 4-5 percent GDP growth, wage inflation, and by the government program 500+, which benefits parents having two and more children with a monthly subsidy of PLN 500 (EUR 116). The program was introduced in 2016 and has had a major effect on the disposable income of the poorest section of the economy.

Dr Hanna Kelm from the Kraków University of Economics underlines despite the costs are going up, Poles are not spending their money on luxurious products. Another report conducted by the Polish Stats Office shows that economic poverty has dropped to 4.3 percent in 2017, by 0.6 percent in comparison to 2016. A significant 2 percent drop in poverty rates occurred in 2016 after the child benefit was introduced.

The report also suggests that bringing up two children can cost EUR 81-89,000, and it the cost can exceed EUR 116,000 when having three children.

In comparison, the average cost of raising a child until their 18th birthday in Germany is around EUR 129,000.

source: