Cost of raising children revealed
PR dla Zagranicy
Roberto Galea
02.06.2015 08:02
A study by the Adam Smith Centre has found that the cost of raising children in Poland can be as high as PLN 460,000 (EUR 112,000) for a three child family, with even a single child costing tens of thousands.
Photo: Flickr.com/ Jun Aviles
The report, released around the Children’s day celebrations, estimates that the average cost of raising one Polish child from birth to 19 years of age ranges from PLN 176,000 to 190,000 (EUR 43,000 to 46,000).
Meanwhile the cost of raising two children was estimated at PLN 317,000 to 350,000 (EUR 77,000 to 85,000), and three children at PLN 421,000 to 460,000 (EUR 103,000 to 112,000).
According to the think-tank, a second child costs around 80 percent of the first child due to economies of scale, while the third child costs roughly 60 percent of the first.
The report noted that to avoid a significant demographic decline a priority should be for Poland to boost its fertility rate, currently at 1.3, to at least two. Last month the European Commission estimated that Poland’s population is likely to fall by over five million by 2060.
The Adam Smith Centre’s report argued that although good public services can reduce the cost of raising children, the crucial requirement for raising the fertility rate is to guarantee a stable and healthy labour market, which would lead to less financial uncertainty. (sl/rg)
Source: PAP