What is the economic situation in Poland at the moment?

The well-diversified Polish economy has proven to be one of the most resilient in the European Union (EU), with a 2.7 percent contraction in GDP in 2020, the first output contraction since 1991.

Is the Polish economy growing?

In 2020, Poland’s GDP contracted by “only” 3.5\%, significantly less than the OECD average of 5.5\%. We should keep in mind that the Polish economy was also performing very well before the pandemic. It had been forecast to grow by 3.1\% in 2020, according to the IMF’s World Economic Outlook from October 2019.

Is Poland the fastest growing economy?

Poland was one of the fastest-growing economies worldwide pre-crisis and has been the fastest-growing economy in post-crisis Europe. The last 26 years have showed a huge potential in Polish economy: its GDP doubled in size (measured in real times)

How much is Poland in debt?

In 2020, the national debt of Poland amounted to around 1,507.49 billion U.S. dollars.

What type of economy does Poland have?

Poland’s economy is a mixed economy that includes private freedoms and also central planning and government regulation. Poland was once communist, but after the 1989 free elections Poland has moved towards a more free-market economy. Being a mixed economy means that Poland uses aspects of both capitalism and socialism.

What are the current issues in Poland?

Poland Environment – current issues. Ultraviolet (UV) radiation – a portion of the electromagnetic energy emitted by the sun and naturally filtered in the upper atmosphere by the ozone layer; UV radiation can be harmful to living organisms and has been linked to increasing rates of skin cancer in humans.

What is economic development in Poland?

Poland – Economic development. After World War II, the economy of Poland was centrally planned and almost completely under state control, especially in nonagricultural sectors. The nationalized industries and businesses operated within the national economic plan and were governed by the directives issued by the pertinent ministries.

What is the political situation in Poland?

The political situation in Poland. The State of democracy and the rule of law in Poland is a debate not only within the country but also on the European and international scene. Some speak of the end of Polish democracy, some others have more nuanced opinions.