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A.T. Kearney: Poland the best to tackle crisis in Europe

( 10 / April / 2009 )

Latest analyses by experts from A.T. Kearney “World’s markets in the era of global crisis and prospects for Poland” provides a very good assessment of the Polish economy. Against the gloomy backdrop of the European crisis-hit markets, Poland experiences only an economic slowdown.

According to A.T.Kearney the polish economy continues among the leaders in Central Europe. The country seems to be most effective on the whole continent in managing the crisis. Thanks to this Poland managed to go up in a number of rankings assessing the economic performance of countries worldwide. Experts emphasise that the country should be more determined in its efforts to enter the G-20. Surveys and research carried out by A.T.Kearney in a number of countries show that the Polish economy is in a relatively good condition. It is mainly due to external factors and not the economy itself to what extent is the global crisis able to harm the current state.

To date the economy managed to stay out of harm’s way what has much to do with a low mortgage debt level of the nation. People with mortgage obligations are not numerous and besides recruit from among households which normally result from groups without solvency problems. Besides the fact that the Polish property market seems much more stable than the American one for example, experts stressed also that the banking system in Poland is very unlikely to suffer a breakdown similar to the one observed in the West of Europe, in particular in Island, the UK, Ireland or Germany. Undoubtedly Poland managed to successfully avoid effects of the first critical phase, a thing the majority of world economies could not shun. Yet the influence the world economic downturn, slum in consumer spending worldwide and weaker financial possibilities of international corporations may have influence on the FDI inflow and export from Poland should not be underestimated.

At the moment there are hardly any places in the world where the crisis may not be felt. - Despite the general opinion symptoms of the crisis could have been observed earlier and the situation should not have come as a surprise. What may have surprised the public opinion is the pace and outreach, a thing which best shows how deep interrelated are all the world’s economies.-  said Aleksander Kwiatkowski, President of the A.T. Kearney Polska.

At the same time the American Chamber of Commerce in Poland published its economic commentary where the Chamber clearly states that Poland indeed continues to be one of the best investment destinations. Moreover, the Chamber suggests the Polish may take advantage of the global economic downturn to make the Polish economy even more competitive. Effective privatization, improvement in the workings of the economic courts, infrastructure development and liberal Labour Code are indispensable to boost the country’s attractiveness. Roman Rewald - director at the American Chamber of Commerce, claims also that Poland’s promotion abroad may effectively help to improve the investment climate in the country.

Source: A.T.Kearney Polska, PAP

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