Lowtax Network

Back To Top

Poland: Country and Foreign Investment

Economy and Currency

This page was last updated on 30 November 2020.

Poland has pursued a policy of economic liberalization since 1988 and has advanced significantly since that time. Joining the EU in 2004 granted Poland access to EU funds and further boosted the economy. Poland was the only EU country to avoid recession due to the Credit Crunch.

Annual growth in GDP was at 3.6% in the last quarter of 2019*, and per capita GDP at purchase power parity was at US$33,685. These figures make Poland the sixth largest economy in the EU. *In 2020, Covid-19 has drastically affected with the world’s economy leading to highly variable GDP growth figures.

Unemployment, which was at around 10% in 2012-13, fell to a highly respectable 3.2% by the end of 2019. The debt to GDP ratio stood at 46%, down from 54.2% in 2016.

Poland has a highly diverse mixed economy with a fully developed market. It is classified by the World Bank as a high-income economy. Top export goods include machinery, electronic equipment, vehicles, furniture and plastics.

The currency is the zloty (literally ‘golden’). There have been several assignations to join the Eurozone, though these have not come to fruition. Adoption of the euro would be by means of a constitutional amendment, which would require a two-thirds majority of the Sejm.

 

 

Back to Poland Index »