Background: The objective was to analyze the budgets invested in prisons by the member states of the Council of Europe (CoE) and the relationships between the global cost, the cost incurred per single inmate, the number of inmates per 100,000 inhabitants (PPR), the gross domestic product (GDP) and per capita GDP. Methods: The data relating to the variables considered for the year 2020 were obtained from the SPACE-I 2021 of the CoE, the World Bank/OECD, and Eurostat. Regression models were used to evaluate the relationships between the PPR and the GDP, the daily cost per prisoner and per capita GDP, and between the PPR and the per capita GDP. A multiple correspondence analysis was performed to evaluate associations between the PPR, EU membership, cost per day, cost rate, geographical area, and inmate gender. Results: The daily expenditure per inmate in northern European countries reaches very high values, respectively: EUR 330.6 (Norway) and EUR 303 (Sweden), while, in the eastern countries, the values drop sharply (EUR 6.50 in Bulgaria and EUR 8.08 in Azerbaijani). The lowest PPR values are found in northern European countries, and the highest in the following countries: Russia, Turkey, Georgia, and Azerbaijan. Conclusions: Countries with a higher GDP per capita tend to have lower prison population rates and to invest larger amounts of funds for prison systems.
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