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Polish economy surprised even the World Bank
( 18 / January / 2005 )
Representatives of the World Bank told Rzeczpospolita daily that Polish economy benefited from the EU membership far more that earlier anticipated. Economists especially stressed improving economic ratios and the condition of public finances.
They were surprised as well with the rate of growth of the Polish economy, which according to Deputy Prime Minister Jerzy Hausner increased by 5.5%-5.7% in 2004.
As a result of improving efficiency of labor, an important social problem remains high number of unemployed. Economists point out at the examples of other EU member states - Portugal, Spain and Ireland, which witnessed similar scenario. All of these countries had a high level of unemployment, which positively influenced labor efficiency and only afterwards resulted in growing number of new jobs. The World Bank points out at the fact labor price in Poland is not rising and thus it remains very competitive.
"Poland may be proud of improving situation of its education level. There is still much room for further improvement in order to reach the average development level of the "old" EU," read the presentation prepared by Pradeep Mitra, chief economist of the WB. He also stressed that Poland was the only country to enter the EU almost "in an undisturbed way".
Pradeep Mitra while assessing Polish economy after EU accession pointed at the fact that, "One should especially stress rapid growth of exports even to the most difficult markets, as well as good use of the structural funds.” In relation to foreign enterprises Pradeep Mitra said that according to the latest research of the World Bank, Poland is among the countries, in which companies waste least of their time for commencing or concluding their business activity. According to the chief economist of the World Bank, Poland might surprise the economists once again - also with regard to growing investments. Due to this the WB, as an institution perfectly knowing Poland, is optimistic about the future of the economy even more than a year earlier.