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

Foreign direct investment in Lithuania has decreased

Statistics Lithuania informs that based on provisional data as of 1 April 2008 foreign direct investment (FDI) made LTL 33.63 billion, or by 2.8 per cent less than on 1 January 2008. more »

Turkish credit-card market expects strong growth

Boston-based Celent LLC has published a new report about the state of the Turkish credit-card market, which has developed rapidly over the last decade and is expected to represent a high-growth opportunity. more »

Microsoft’s Annual Revenue Reaches $60 Billion

Fastest annual revenue growth since 1999 fuels 32% increase in earnings per share. more »

First Data To Be Acquired By KKR

First Data Shareholders to Receive $34 per Share in Cash; Transaction Valued at $29 Billion more »

National Bank reports 3.8-percent decrease in Belarus' international reserves in January

Belarus' international reserves decreased by 3.8 percent in January 2007 to $1,329.9 million as of February 1, according to the National Bank of Belarus (NBB). more »

Minsk Tractor Works reports 19.8-percent year-on-year increase in output in January

The Minsk Tractor Works (MTZ) manufactured nearly 172 billion rubels worth of industrial products in the first month of 2007, which was a 19.8-percent year-on-year increase. more »

Minsk expected to borrow up to $1 billion abroad this year

The Belarusian government plans to borrow up to $1 billion abroad this year to cushion the effects of a sharp hike in the price of energy resources. more »

Russian Audit Chamber suggests reviewing economic relations with Belarus

Russia's Audit Chamber has suggested reviewing all economy agreements between Belarus and Russia, Andrei Kokoshin, head of the standing committee on CIS affairs in the State Duma (Russia's lower parliamentary house), said on Thursday. more »

Belarus considers buying two oil fields in Russia

Belarus is contemplating the purchase of two oil wells in Russia, a senior executive at the Belneftekhim state-controlled petrochemical concern said Tuesday. more »

Lukashenko warns against economic development slowdown

Aleksandr Lukashenko warned that a slowdown of Belarus' economic development pace could undermine public confidence in the government and damage the country's image in the international arena. more »