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Poland recent progress is mostly non-currency related: 1. Still a lot of catch-up grow. Well educated workforce, great productivity, proximity (geo/legal/cultu
by jakozaur 11y ago
Poland recent progress is mostly non-currency related:
1. Still a lot of catch-up grow. Well educated workforce, great productivity, proximity (geo/legal/cultural) to advanced countries though way lower salaries. If you are from software company in SF Bay Area and looking to build up global presence, this region is likely your best bet.
2. Healthy banking sector. Low number of defaults. No collapse of real estate value.
3. Good use of EU development aid funds. A lot of new roads and infrastructure spending when crisis hit Europe.
4. Responded well to crisis: raised retirement age, froze public salary budget, increase some taxes (by 1% VAT).
Let me give you a couple of other examples countries with euro or currency pegged to Euro. Latvia, Estonia, Lithuania, Slovak Republic:
https://www.google.pl/publicdata/explore?ds=d5bncppjof8f9_&ctype=l&strail=false&bcs=d&nselm=h&met_y=ny_gdp_pcap_pp_cd&scale_y=lin&ind_y=false&rdim=region&idim=country:LVA:EST:LTU:SVK&ifdim=region&hl=en&dl=en&ind=false https://www.google.pl/publicdata/explore?ds=d5bncppjof8f9_&c...
All of them have down GDP in 2008-2009, but all of them has recovered and grow a lot since then. However, they all don't have deep structural problems as Greece and got governments who can act in crisis situation effectively.