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

Budget deficit lands Poland in hot water

Poland has received a dressing down from the European Commission more »

Asian banks express strong interest in Parex banka

First Asian targeted syndicated loan in history of Baltic banking signed by Parex banka more »

A Detailed Plan of Action

UKRAINIAN GOVERNMENT WANTS TO CONTEST 3,000 PRIVATIZATIONS IN COURT more »

Flash Inter-Bank Payment Network Expands to Six Countries

The clients of five more banks from the HVB Group have been included in the FlashPayment system of money transfer enlarging the inter-bank network to a total of 19 banks in Bulgaria, Estonia, Latvia, Lithuanian, Russia and Ukraine more »

Russia Could Block Siemens Takeover

Russia's antitrust authority signaled Tuesday that it might block a bid by German industrial giant Siemens to take a controlling stake in a strategic engineering company, citing national security concerns more »

The Growth Trend

Raiffeisen Bank Polska (RBP) closed 2004 with a record net profit of zł.165.4 billion which is almost double the 2003 figure more »

Polish Bonds Rise

Polish bonds rose more than any other government-debt securities after a report showed inflation slowed the most since May more »

RUSSIA, IRAN CREATE BUSINESS COUNCIL

The chambers of commerce and industry of Russia and Iran have created a Russia-Iran Business Council more »

Bulgaria's Govt Debt Short of EUR 8 B End-2004

Bulgaria's government and government-guaranteed debt stood at EUR 7.95 B at the end of December 2004, with foreign debt accounting for 82.8% of it, the finance ministry announced more »

Ahern lauds Polish workers in Ireland

Irish Prime Minister Bertie Ahern said yesterday that opening Ireland's job market to workers from Poland, when it joined the European Union on May 1 last year, has "worked out well" for both countries more »