Poverty Risk Rate In Hungary Below EU Average

  • 21 Oct 2019 8:57 AM
  • Budapest Business Journal
Poverty Risk Rate In Hungary Below EU Average
The proportion of Hungarians at risk of poverty or social exclusion was 19.6% in 2018 compared to the 21.7% EU average, data compiled by the European Commissionʼs statistical body Eurostat show.

The comparative rate was 12.2% for the Czech Republic, the lowest rate in the EU, 18.49% for Poland and 16.2% for Slovenia. The rate in neighbouring Austria was 17.5%.

In 2018, 109.2 million people in the EU were at risk of poverty and of these 1.88 million were Hungarians. The numbers were down from 116.1 million and 2.79 million in 2008, respectively.

Last year 20.3% of Hungarian women and 18.9% of men were at risk of poverty.

By household composition 17.6% of households without children were at risk of poverty but the rate was 20.6% for ones with children.

A breakdown by age shows that 23.8% of those younger than 18 years were in the at risk category compared to a 13.3% rate among those more than 65 years old.

Individuals are identified as being at risk of poverty if they were in at least one of the following three conditions: at risk of poverty after social transfers (income poverty), severely materially deprived or living in households with very low work intensity.

Data shows that last year 12.8% of Hungarian were at-risk-of-poverty after social transfers, 10.1% were severely materially deprived and 5.7% were living in households with very low work intensity.

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Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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