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

Gold Driller Top Certified for Bulgarian Investments

Canadian gold driller and miner Dundee Precious Metals Inc. received Monday first-class investment certificate from Bulgarian government more »

Czech company purchases 3rd portion of Baku-Supsa oil

The Unipetrol Refinery company of the Czech Republic has purchased this year's third portion of Azeri Light profit oil to be exported by the State Oil Company (SOCAR) more »

Opec expresses concern about rising oil prices

Seeking to cool market sentiment, the head of Opec on Sunday said the organisation is concerned about stubbornly high prices that defy what he described as a well-supplied market and adequate crude stocks worldwide more »

Direct access, remote control

On February 17 the German bank Dresdner Bank AG became the first remote member of the Warsaw Stock Exchange more »

Morocco, Poland to strengthen economic relations

Polish businessmen convened, in Cassablanca Wednesday, with members of the Casablanca Chamber of Commerce, Industry and Services to discuss means to reinforce bilateral trade cooperation more »

Banks seen unlikely to repeat stellar performance of 2004

Hungary’s banks posted record profits in 2004, driven mainly by a surge in lending to households more »

Bulgaria's HVB Biochim, Hebros Bank Merge

Bank Austria Creditanstalt (BA-CA) has acquired a 89.92% stake and HVB Biochim Bank - a 9.99% of stake in Bulgaria's Hebros Bank more »

A memorandum on cooperation

Russia and Kazakhstan sign cooperation memo more »

EBRD hopes loans will aid Ukraine

The European Bank for Reconstruction and Development is planning a raft of new investments in Ukraine to underpin the country's democratic transformation under President Viktor Yushchenko more »

Geneva motor show reflects lack of drive in Europe

Peugeot Citroën, the French cars group, is planning to turn its back on western Europe and concentrate all its investment in new plant in eastern Europe more »