The country is hungry is: Poland's economy in spite of the crisis, and is pushing into Europe's top

once there was this Moment, as looked at in Europe, Economists with great surprise to Warsaw. That was in 2009, when the effects of the financial crisis has lef

The country is hungry is: Poland's economy in spite of the crisis, and is pushing into Europe's top

once there was this Moment, as looked at in Europe, Economists with great surprise to Warsaw. That was in 2009, when the effects of the financial crisis has left the economies of the continent range in the recession, are slipping. Poland, however, remained spared. Much more still: In the first year after the banking collapse, the economy grew by 1.3 per cent, in the following year, even by 3.6 percent. The continuation of a non-permanent boom that catapulted the country over the past two decades from Europe's poor house in the middle-class wool.

Since 2009, the country between the Oder and Vistula is considered the crises-rounder. And in fact, makes it appear that Poland could succeed in the current pandemic downturn similar; at least, there is the first evidence.

at the beginning of may, the EU Commission published a forecast on economic effects of the corona pandemic, in which they attributed to a pan with a decline in economic output by 7.5 percent, for Poland, but only a drop of 4 percent shows. In the year 2021, the Polish economy is already back fully from the shock recovered, so the prediction.

Numbers can also Jadwiga Emilewicz, Poland's Minister for economic development of the coalition party of "understanding", cautiously optimistic view of the future. Unemployment had not risen as dramatically as feared (currently 5.8 percent), production and trade would come with the Corona-relaxations in response, she said in an interview with "ARD".

a number of factors, the Polish economy was resistant to the crisis

But what of the Polish economy makes it so durable, so resistant to the crisis? In an Interview with FOCUS Online Ernst Hillebrand, the head of the Friedrich-Ebert-Stiftung (FES), which is declared in Warsaw, three in particular, three factors for the relatively positive Outlook in the crisis: a mix of policies and historically grown structures.

It is situated, the economy of the country wide, "there is no sector that contributes more than 15 percent of the share in the foreign trade," says Hillebrand. In addition, the corona has battered tourism industry to the economy was of little significance. Sectors, such as the Polish chemistry or IT industry benefited from the pandemic. The different legs help to reduce the unilateral dependence on Exports. imago images/newspix Poland's Minister for economic development: Jadwiga Emilewicz

has been Added that Poland's national-conservative PIS government aufpäppelte at an early stage in your economy to be generous with state aid. If credit guarantees, amounted to the stimulus measures to 13 percent of GDP - roughly EUR 70 billion. "Bankruptcies and a larger loss of jobs could be prevented similarly as was previously the case in Germany,“ says Hillebrand.

in addition to the low level of government indebtedness, which is in Poland, less than 50%, also contributes to the EU's solid economic situation. Alone in the EU-haushaltso period, Poland was co-financed with about € 80 billion, from the recently-approved 750 billion-dollar corona aid package Hiking 37.7 billion from Brussels to Warsaw. As a "pain-free investments" referred to Hillebrand, the structural assistance of the EU, which were put in Poland over the past years, especially in infrastructure projects and not be a burden to the state Treasury to represent.

boosts social policy, domestic economic

at the same time, Poland's government has not ensured that the domestic economy depends very much on the drip of the exports. As a means of an active served mostly for social policy, in the context of, for example, the child allowance and the pension benefits were extended.

measures to stimulate in particular the internal market and also in the high level of private consumption as a share of gross domestic product of 58% reflect. In Germany, the proportion is "only" 52 per cent. In this connection, the strong export orientation and the high current account surplus are always subject to criticism. Different in Poland: "the government in its economic policy, the domestic demand for a long time, seriously, makes the Polish economy in this global crisis, is now less vulnerable and more robust," says FES-staff Hilebrand

Poland: The Chance in the corona of a crisis

For the country in the heart of Europe do not provide the turbulence of the world economy, however, the only possibility to distinguish themselves once again as the various die-hard crisis Manager, but also the Chance to stand at the end might actually be a winner. Otherwise it is to be understood, when the Minister Emilewicz of "real de-globalise processes," in the Wake of the crisis and the "rebuild speaks of local value chains".

you What it's all about is clear: A lower wage level than in Western Europe, high skilled professionals and the geographical location make Poland has always been attractive for foreign investment. The Most Recent Example Is Microsoft. The Software giant has invested in the midst of the pandemic, a billion dollars in a large "Cloud"data centre.

The number of foreign investments is expected to decrease in the coming years, says Adrian Stadnicki from Eastern Europe Association of the German economy. "In the headquarters of European companies is currently being discussed, how and whether to adapt the supply chains. It is, in particular, their diversification, in order to be in the event of a renewed global crisis, more broad-based. Therefore, we think that it will come in the future to Investments in the Region“.

On the way in Europe's top economies could be a further important step in Poland. "The country and the economy are hungry," said Stadnicki.

In the FOCUS Online/Wochit In the

BWI/
Date Of Update: 04 June 2020, 02:28

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