Poland, with a balanced budget planned for 2020, has room for fiscal stimulation, the Ministry of Entrepreneurship and Technology wrote on Tuesday in response to a critical report from rating agency Moody's.
In the first five months of 2019, Poland surpassed Great Britain and became the sixth biggest economic partner of Germany in the world, the Polish Economic Institute (PIE) said in a report on Poland's trade with Germany, published on Wednesday.
Appearing on a local radio station in Katowice (southern Poland), where he is running for re-election in the coming parliamentary ballot, Prime Minister Mateusz Morawiecki hailed the Silesia region, of which Katowice is the capital, for its future potential.
PM Mateusz Morawiecki at a harvest feast rally in Dąbrowa Górnicza, south Poland, voiced hope that Poland will catch up economically with Western Europe in a decade or so.
With a new decade approaching, the report by American management consulting firm McKinsey in association with Forbes magazine considers two scenarios for the Polish economy: a baseline scenario and an optimistic one.
"Poland is ready for a global economic slowdown. Poland's GDP growth should visibly drop to below zero to make our deficit come close to the EU limit," the Deputy Finance Minister Leszek Skiba told the Dziennik Gazeta Prawna daily on Thursday.
Leading German business daily Handelsblatt, which literally translates as ‘commerce paper,’ on Tuesday has written of the Polish economic miracle.
Poland's largest lender by assets, PKO BP, has maintained the forecast of Poland's economic growth at 4.6 pct in 2019 and slightly raised its forecast for next year to 3.7 percent, PKO BP's chief economist, Piotr Bujak, said on Thursday.
By the end of 2018, nearly PLN 119.2 billion (EUR 27.9 bln) was invested in special economic zones since their establishment, the capital invested there came from Poland, Germany, the Netherlands, Luxembourg and the USA, the Entrepreneurship Ministry said.
According to the report by the Polish Economic Institute, the budget could gain an additional PLN 127.8 billion by 2023 billion if it reduces the shadow economy by 1 percentage point per year.