Poland’s economy is one of the fastest growing in the European Union. Statistics Poland (GUS) estimates that in the second quarter of the year Poland’s GDP increased by 5.1 percent.
Prime Minister Mateusz Morawiecki says, that “what’s more important is that Poland’s economy has finally started to base itself on three engines: investments, consumption and export.”
The European Commission released the GDP growth rates for 23 EU countries – Poland is at the top.
The Polish minister of development Jerzy Kwieciński claims that this result is also due to low unemployment rates and high consumer trust. He is sure that GUS will confirm a 5.1 percent increase in the second quarter at the end of the month. He also foresees a 4.5 to 5 percent increase in GDP in the third quarter.
Poland’s economy has finally started to base itself on three engines: investments, consumption and export
Analysts criticized the government for low investment rates and basing the economy solely on consumption and export. Meanwhile, GUS released data showing a 10.3 percent increase in investments.
The prime minister Mateusz Morawiecki reminded that this is the highest increase in investments since the 2015 elections.
Morawiecki stresses that we are now witness to the effects of the government’s actions to strengthen Poland’s entrepreneurship. These include the lowering of corporate tax, the introduction of the Business Constitution and the government aid package for companies.
He also underlined that large infrastructure projects are underway, such as the construction of roads, bridges and railways.