Corruption belies Poland's prosperity

Published: 29 March 2004 y., Monday
Just weeks before Poland joins the European Union on May 1, Warsaw struts a new prosperity. But all is not what it seems: Despite strong economic growth driven by exports, the country faces high unemployment, political uncertainty and deeply rooted corruption. Paradoxes abound. Those who can afford new Volvos or BMWs must still drive them along potholed roads. The hip cafes that draw fashionable young people are often housed in drab Stalinist-era concrete block buildings. And many of the luxury goods for sale in the bright new shops and malls remain off-limits to many in Poland, where only 1 percent earn above $18,000 a year. Such contrasts exist in all eight former communist states due to join the EU, but the stakes are highest in Poland, the largest of the new countries. With more than 38 million people, Poland accounts for 52 percent of the new EU citizens. Poles will be 8.4 percent of the union’s population, so its economy performance will have a major impact on the rest of the bloc, the world’s largest economic union. Analysts say that Poland’s greatest economic strength is the many modern, efficient companies that have made the transition and are already selling successfully to EU countries. Ten years ago, Polish exports consisted mostly of raw products like coal, sulfur, apples and meat. Today, exports also include higher-value goods like precision surgical instruments, pharmaceuticals and car engines.
Šaltinis: detnews.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

The Economic Growth of Lithuania

Continued Strong Economic Growth of Lithuania in 2005 more »

A Limited Partnership

MIL Equity Partners to invest in Bulgaria, other European countries more »

Slovakia, once a laggard, moves ahead on euro adoption

Once the laggard among the rapidly restructuring central European economies, Slovakia now ranks as a top contender in the region's next major undertaking after joining the European Union more »

Poland Seeks Joint Ventures With Kingdom

With the balance of trade tilted heavily in favor of Poland, Saudi Arabia has decided to activate the Saudi-Polish Business Council and take other export promotion measures more »

The Russian Economic Forum in London

The European Union trade commissioner will for the first time participate in work of the Russian Economic Forum in London more »

The Stabilisation Fund war in Russia

It is the only source that can provide a chance for economic breakthrough more »

Russia, EU leaders reach agreements

European leaders formed a united front with Russian President Vladimir Putin on Friday, emphasizing their common position on Iran's nuclear ambitions and pressing Syria to withdraw from Lebanon more »

World Bank Hails 'Rapid Growth' in Russia

The Russian economy has benefited from rapid growth but government interventions in some businesses have increased uncertainty in the investment climate, the World Bank said on Thursday in a review of its lending strategy more »

Ruble surges against euro

The Russian Central Bank has set the official euro exchange rate for March 19 to 21 at 36.7 RUR/EUR more »

Ukraine to drop peg to dollar

Ukraine plans to replace its currency's peg to the dollar with a more flexible exchange rate system that includes the euro more »