With its strong fundamentals Poland will remain a European growth leader, according to the National Bank of Poland head Adam Glapiński.
After repeating the mantra of stable interest rates at the December meeting of the Monetary Policy Council, NBP Chairman Adam Glapiński laid out in a Rzeczpospolita daily column the key five features of the Polish economy which he believes will keep recession from the door in the next few years.BR>
A strong internal market
The size of the Polish market and the rate that consumption is growing will ensure greater demand, which will spur investment.
Stability of growth
While Poland is growing quickly, its growth is balanced. Inflation is within its target band of 1.5 percent +/- 1 percent, while the exchange rate to the Euro is stable.
The prices of Poland’s goods and services are competitive and so exports are growing strongly despite global turbulence.
Public finances are in a good state
The health of the public finances will enable the government to loosen fiscal policy to support consumption if needs be.
EU fund flows
For the next five years at least, there will be significant inflows of EU funding into the Polish economy, which will boost investment and lead to growth.