Poland – from centrally planned to market driven economy. How soon will it be possible to achieve Germany’s level of development?

Melissa Topturk

Abstract


Republic of Poland is located in Central Europe. The country is surrounded by 7 countries – Germany, Czech Republic, Slovakia, Ukraine, Belarus, Lithuania, Russia. Moreover, Poland has open access to Baltic Sea through can directly trade with Denmark, Sweden, Norway, Finland, Estonia and Latvia. In 1989 as a result of geopolitical changes in Europe, Poland became independent country with market driven economy. Since 2004 Poland is a member of European Union but country still keep Polish Zloty (PLN) as a national currency.[1]The country is populated by 38.5 million of people (2015), with 12,554 USD ‎GDP per capita, which is around 67% of average GDP per capita in European Union (2013)[2]. Current Poland GDP is equal to 477 billion USD, which put Poland in 25thplace in the world and 24thplace in terms of purchasing power parity. Between 2000-2015 Polish GDP increased by 140%, Export by 361% and import by 239%.[3]In the last few years, Poland has become the fastest growing economy in the EU. It is a decentralized country, having strong institutions and its economy is diverse and deeply integrated within the EU. In 2009, it was the only EU country to avoid recession. However, Polish GDP per capita is only 63% of the EU average. There are still remaining significant disparities of income between Warsaw (the richest part of the country), the Western provinces (generally well linked to the EU) and Eastern provinces (relatively poorer).


[1]Poland is obligated to implement Euro currency in the future. Nevertheless, the accession agreement between Poland and European Union does not precise the date of Euro implementation.

[2]http://data.worldbank.org/

[3]“Polish foreign trade outlook at the end of September2016”, Ministry of Economic Development


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ISSN : 2251-1555