Poland

Economy

Main article: Economy of Poland

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Since its return to democracy, Poland has steadfastly pursued a policy of liberalising the economy and today stands out as one of the most successful and open examples of the transition from a partially state-capitalist market economy to a primarily privately owned market economy.

Related Topics:
Democracy - Liberalising

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The privatisation of small and medium state-owned companies and a liberal law on establishing new firms have allowed for the rapid development of an aggressive private sector, followed by a development of consumer rights organisations later on. Restructuring and privatisation of "sensitive sectors" (e.g., coal, steel, railways, and energy) has begun. The biggest privatisations so far were a sale of Telekomunikacja Polska, a national telecom to France Telecom (2000) and an issue of 30% shares of the biggest Polish bank, PKO BP, on the Polish stockmarket (2004).

Related Topics:
Privatisation - Consumer rights - Coal - Steel - Railway

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Poland has a large agricultural sector of private farms, that could be a leading producer of food in the European Union now that Poland is a member. Challenges remain, especially under-investment. Structural reforms in health care, education, the pension system, and state administration have resulted in larger-than-expected fiscal pressures. Warsaw leads the region of Central Europe in foreign investment and allegedly needs a continued large inflow. GDP growth had been strong and steady from 1993 to 2000 with only a short slowdown from 2001 to 2002. The prospect of closer integration with the European Union has put the economy back on track, with growth of 3.7% annually in 2003, a rise from 1.4% annually in 2002. In 2004 GDP growth equalled 5.4% and in 2005, it is expected to be around 3.7%.

Related Topics:
Agricultural - European Union - Pension - Central Europe - GDP - 1993 - 2000 - 2001 - 2002 - 2003 - 2004 - 2005

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Annual growth rates broken down by quarters:

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• 2003: Q1 - 2.2% | Q2 - 3.8% | Q3 - 4.7% | Q4 - 4.7%
• 2004: Q1 - 6.9% | Q2 - 6.1% | Q3 - 5.8% | Q4 - 5.9%