Polish Entrepreneurship and Technology Minister Jadwiga Emilewicz and German Economy and Energy Minister Peter Altmaier in Berlin on Monday signed a joint declaration on an industrial strategy that should be adapted to the challenges of global competition.
The government would like Polish businesses to take over the dozens of German companies that are having business succession problems, Entrepreneurship and Technology Minister Jadwiga Emilewicz told PAP on Friday.
The report shows the striking changes to the country’s size, composition of population and economy that have taken place over the past 100 years.
The situation in Poland compares well to that in other EU countries: at the end of 2018, its Economic Sentiment Indicator (ESI) was 107.8, according to Eurostat, just above the EU-28 average of 107.6 and higher than in countries including France, Italy and Britain. A year earlier, it had been below the EU average.
Global ratings agency Fitch has lowered its forecast of Poland's general government deficit to 1.7 percent from 2.2 percent of the country's GDP in 2019 and upheld, at 2.3 percent, its forecast for 2020, according to data released Friday.
Investment in Poland as a share of GDP is relatively low compared to other EU countries, the report shows. In 2017, gross spending on investment in Poland in relation to GDP was 88.1% of the EU average – lower than in other countries in Central and Eastern Europe.
Thousands of Polish firms, from multi-nationals to one-person companies, trade with the UK one way or another, forming a big chunk of the Polish economy. Brexit, say businessmen, could hit Polish exporters hard, especially in sectors that rely on just-in-time delivery and shared standards.
The event which included other CEE leaders focused on cooperation between the public and private sectors, specifically to tap into the region’s digital potential.
A casual visitor to Warsaw today might not realise how far the country has come economically over the past three decades. But should Poland’s economic success be taken for granted?
Poland's economic growth will reach 4.0 percent in 2019, the World Bank has announced, having revised upwards its October 2018 forecast of 3.9 percent.