Saturday, December 25, 2010


Poland's high-income economy is considered to be one of the healthiest of the post-communist countries and is currently one of the fastest growing within the EU. Since the fall of the communist government, Poland has steadfastly pursued a policy of liberalising the economy and today stands out as a successful example of the transition from a centrally planned economy to a primarily market-based economy. Poland is the only member of the European Union to have avoided a decline in GDP during the late 2000s recession. In 2009 Poland has had the highest GDP growth in the EU. As of November 2009, the Polish economy has not entered the global recession of the late 2000s nor has it even contracted.

The privatization of small and medium state-owned companies and a liberal law on establishing new firms have allowed the development of an aggressive private sector. As a consequence, consumer rights organizations have also appeared. Restructuring and privatisation of "sensitive sectors" such as coal, steel, rail transport and energy has been continuing since 1990. Between 2007 and 2010, the government plans to float twenty public companies on the Warsaw Stock Exchange, including parts of the coal industry. The biggest privatisations have been the sale of the national telecoms firm Telekomunikacja Polska to France Télécom in 2000, and an issue of 30% of the shares in Poland's largest bank, PKO Bank Polski, on the Polish stockmarket in 2004.

Poland has a large number of private farms in its agricultural sector, with the potential to become a leading producer of food in the European Union. Structural reforms includes health care, education, the pension system, and state administration have resulted in larger-than-expected fiscal pressures. Warsaw leads Central Europe in foreign investment. GDP growth had been strong and steady from 1993 to 2000 with only a short slowdown from 2001 to 2002.

The economy had growth of 3.7% annually in 2003, a rise from 1.4% annually in 2002. In 2004, GDP growth equaled 5.4%, in 2005 3.3% and in 2006 6.2%. According to Eurostat data, Polish PPS GDP per capita stood at 61% of the EU average in 2009.

Gdynia, situated at Gdańsk Bay on the south coast of the Baltic Sea, is an important seaport of Poland.
Although the Polish economy is currently undergoing economic development, there are many challenges ahead. The most notable task on the horizon is the preparation of the economy (through continuing deep structural reforms) to allow Poland to meet the strict economic criteria for entry into the Eurozone.
Average salaries in the enterprise sector in October 2010 were 3440 PLN (880 euro or 1255 US dollars) and growing sharply. Salaries vary between the regions: the median wage in the capital city Warsaw was 4,603 PLN (1,177 euro or 1,680 US dollars) while in Kielce it was only 3,083 PLN (788 euro or 1125 US dollars). Differences in salaries in various districts of Poland is even higher and range from 2,020 PLN (517 euro or 737 US dollars) in Kępno County, which is located in Greater Poland Voivodeship to 5,616 (1,436 euro or 2,050 US dollars) in Lubin County, which lies in Lower Silesian Voivodeship.

Commodities produced in Poland include: electronics, cars (including the luxurious Leopard car), buses (Autosan, Solaris, Solbus), helicopters (PZL Świdnik), transport equipment, locomotives, planes (PZL Mielec), ships, military engineering (including tanks, SPAAG systems), medicines (Polpharma, Polfa), food, clothes, glass, pottery (Bolesławiec), chemical products and others.

No comments:

Post a Comment