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Standard of living set to slip to 46th by 2050

8/17/2026

26 4 Full Breakdown

Summary

Story summary

The country’s standard of living is projected to fall behind Lithuania in five years and the Czech Republic in six years.
Taxation and debt have moved the country from 12th place at the start of the century to 24th today.
If conditions do not change, the country could drop to 46th by 2050, become a middle-income nation, and be overtaken by Romania, Georgia, Turkey and Moldova.

History

Historical Context

The 2008 financial crisis sparked a global recession that peaked in Q1 2009, with 59 of 71 economies—including most Eastern European nations—experiencing contraction. Bulgaria fell into recession in early 2009, joining Romania and the Czech Republic, while Poland alone avoided a downturn; IMF emergency loans and EU stabilization funds then reshaped fiscal policy across the region.

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Story summary

The country’s standard of living is projected to fall behind Lithuania in five years and the Czech Republic in six years.
Taxation and debt have moved the country from 12th place at the start of the century to 24th today.
If conditions do not change, the country could drop to 46th by 2050, become a middle-income nation, and be overtaken by Romania, Georgia, Turkey and Moldova.

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