‘Poland has good development prospects’

- Poland, as one of few European countries, records economic growth. This is a sign of Poland’s economic strength and good prospects for development –Polish Deputy Prime Minister Waldemar Pawlak told a session in Warsaw of the OECD Working Party on Small and Middle-Sized Enterprises and Entrepreneurship.

According Pawlak, Poland ows its position to the transformation it has experienced during the last 20 years – This is also due to a significant diversity of manufacturing and services in the Polish economy – he noted. – This helped us achieve leadership of Central and Eastern Europe in this regard – he stressed.
Deputy Minister of the Economy Rafał Baniak emphasized that one government priority in the face of the global crisis was to develop entrepreneurship – The actions we take aim at providing a climate conducive to increased number of enterprises, their investment and expansion to foreign markets – he said. One way they are implemented is through amending the laws and supporting the financial environment in which small and middle-sized enterprises operate – he added.
Deputy Minister informed that a review of the SME policy would be carried out soon. – Its aim will be to assess the quality of entrepreneurship policy – Deputy Minister Baniak emphasized. The review will be conducted in cooperation with the Centre for Entrepreneurship, SMEs and Local Development of the Organisation for Economic Co-operation and Development.
The Working Party on Small and Medium-sized Enterprises & Entrepreneurship (WPSMEE) is an high-level international forum for SME policy.
WPSMEE works to support entrepreneurship and increase potential of small businesses, conducing country policy reviews and diffusing best practice in such areas as: business environment, globalization, MSP financing, innovation, training, access to markets, taxation, e-business, women’s entrepreneurship.(MoE)

Polish Market

ECONOMIC MONITOR

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• ● In December 2009 and January 2010, as in previous months in the second half of 2009, the Polish economy stood out against other countries in terms of GDP growth. Poland’s economic growth was higher than projected and higher than in other European countries.
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• In 2009 construction output increased by 3.7%.
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• Retail sales increase in most product groups.
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• On the Warsaw Stock Exchange, stock prices were very volatile in January 2010.
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• At the end of December 2009 the registered unemployment rate (claimant count rate) amounted to 11.9% versus 11.4% in November.
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• At the end of January the president signed the 2010 budget bill into law. The bill was adopted by the parliament on December 18.
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• In the fourth quarter of 2009 the Polish economy turned out to be more resistant to the global crisis than had been projected and than the economies of Polish neighbours, something which boosts optimism in forecasts for 2010 and the next years.
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WEEKLY MARKET ANALYSIS

The last portion of macroeconomic data for January will be released on Friday when the National Bank of Poland (NBP) is expected to publish balance of payments figures. We estimate that the current account deficit reached EUR580 million while the consensus of the “Parkiet” daily is EUR614 million. We expect that growth in exports slowed slightly in January to 10.9% y/y. We also predict that imports had already made up for last year’s losses and rose by 7.7% y/y in January.

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