Warszawa: al. jerozolimskie 22 biuro 81
+48 514 449 049

Prospects for the development of Poland’s economy

For several decades Poland has suffered large-scale transformations, both economic and political. Economic condition has improved, the state has got out of control, privatization in industry has taken place, market competition has started.

At the same time various, in general, very complex reforms were carried out. As a result, the standard of living and GDP went up sharply, which continues to this day. The success of the work done by EU membership since 2004, which has set the vector of modernization.

A quarter of a century ago Poland’s economy was twice less developed than it is now. GDP per capita has also changed for the better. GDP growth is 4.6% for the year between 1991 and 2008.

Only Poland has not affected the slowdown in economic growth during the global crisis. The Polish economy occupies the eighth place in the European Union. Its modernization has been the impetus for changes throughout Eastern Europe.

Financing from the European Union, foreign investments, increase of efficiency of labor resources, stable structure of banks is the basis of economic development. Nowadays everything has changed: the efficiency of foreign investments tends downwards, the production rate is falling; European Union funding is likely to decrease in a few years.

Now Poland needs to determine the course of modernization for the nearest decade. There are two most likely scenarios:

  • To orient to the regional model of economy. In this case, the income remains stable, average.
  • To boost development and compete with the most developed countries.

The first scenario provides a steady increase in the gross domestic product by two and a half per annum. The intensity of capital investment increase would tolerate a mild slowdown. Changes in labour resources will be a negative factor. There will be no techno-discoveries, forcing efficiency.

This development is likely to produce an increase in GDP. Due to this, Poland will start competing with the countries that have previously stood at a higher level.

The second option includes dynamic development. This can make Poland the country with the fastest growing economy. Annual GDP growth exceeds 4 percent. This will give the opportunity to compete with countries that surpass Poland at times.

We will summarize: the further growth of the economic condition of Poland is predicted. Depending on the chosen path, the speed of modernization may vary. However, we can say without a doubt that the factors of the country’s development make it a good option for the development of its startup.

Leave a Reply

Your email address will not be published. Required fields are marked *