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Poland in the EU

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Poland continues to enjoy good economic condition - European Commission confirms in its latest report

28.02.2020

Poland is amongst the leaders of economic growth in the EU, with stable macroeconomic foundations and further development potential in the field of innovation - these are the main conclusions from the latest European Commission report on the state of the Member States economy.

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European Commission experts highlight the following:

  • Poland remains one of the growth leaders in the EU. The European Commission forecasts a 4% growth of Poland's GDP in 2019. The growth is still driven mainly by household consumption, but also particularly by good public and private investment results.
  • The European Commission predicts that GDP in 2020 and 2021 will increase in Poland by 3.3%, same level as in the previous forecast from autumn 2019. This means that in 2020-21 Poland should remain at the very forefront of the EU in terms of the economic activity dynamics (5th and 3rd place respectively amongst EU27).
  • The economy is well balanced. The level of public debt is below the EU average, foreign debt has fallen.
  • Good export results persist despite weakening global trends. Exports are diversified, while products and services are of increasingly better quality.
  • In 2019, there was a rebound in private investment (by 18.4% year-on-year). The increase was also noticeable in the case of public investments.
  • The unemployment rate remains at a very low level.
  • There was a significant increase in wages. Combined with tax breaks and social benefits, this translates into an increase in private consumption of around 4%.
  • Further drop in the number of people at risk of poverty and social exclusion to 18.9% in 2018. This result is much better than the EU average of 21.9%.
  • The innovative potential of the Polish economy is expected to result in further growth due to solutions such as tax reliefsfor R&D activities, the possibility of reducing the level of taxation of income obtained from intellectual property rights (IP box), or the planned simplification of procedure for establishing a joint-stock company.
  • Poland has delivered good results in achieving the objectives of sustainable development included in the 2030 Agenda, in implementing the principles of the European Pillar of Social Rights and the objectives of the Europe 2020 Strategy (employment growth, poverty reduction, participation of  students in higher education).

National reports serve as the basis for the European Commission draft recommendations for MS, which the EU Council adopts in July of each year.

Detailed Country Report Poland 2020: https://ec.europa.eu/info/sites/info/files/2020-european_semester_country-report-poland_en.pdf

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