The Polish economy is a solid brand
The events of the last few months – the pandemic and the war in Ukraine – taught us how quickly they reacted and suddenly adapted to changing realities. They highlighted the introduction of changes in the management of socio-economic processes in the longer term and increased the possibility of possible disturbances in the future – wrote Waldemar Buda, Minister of Development and Technology in the contribution published in the “Polish Compass 2022” annual
Not only our country, but also the whole of Europe is facing the transmission of the supply chain, the increase in source prices, the economic slowdown at the legal partner, the depreciation of its currency, inflation, and in the case of Poland – an unprecedented influx from Ukraine.
Russia’s aggression in Ukraine has affected fuel prices and has exposed many different European Union countries from Russian gas. For many years, Poland has been preparing to become independent from supplies of energy resources from Russia. As a result, we were in a slightly different situation than some of the Member States, because we had foreseen much in advance to cut ourselves off from Russian raw materials.
The war in Ukraine has redefined the special green deal. During the transition period between fossil fuel sources, including coal mining. In the long term, strive to strengthen the generation of renewable energy (RES) in the energy mix to build the competitiveness of the Polish economy and its security. The energy transition must be fair and adapted to the capabilities of individual countries. One of the pillars of the energy source to be the source of nuclear energy, which is a safe, low-carbon and energy product.
Good economic conditions in the surroundings
In the post-covid world, the disruption of the supply chain and its regionalization has become a global chain. Strained during the supply chain from Southeast Asia, including China, forced stockpiling in European companies. This in turn expanded with additional costs. Get our motivation to shorten the chains of Europe, i.e. to move production to the East, to countries geographically closer to the markets, with a relatively cheap cost of doing business. It can be seen that the process of nearshoring will continue in Europe, i.e. moving production closer to the market.
In particular, the results of the Polish economy and its trade should be appreciated all the more. We closed 2021 with an increase in exports of 19.1 percent. – to the level of EUR 285.8 billion. After five ends of 2022. According to the preliminary data of the Central Statistical Office, we maintain the growth in exports at the same level. These single results show that Poland benefited from the global trend of shortening the supply chain.
In 2021, we received a joint record inflow of investments to Poland – USD 24.8 billion. We are fourteenth in the world and third in the EU in terms of the value of investment inflows (FDI) in 2021.
Our country is based on de-industrialization, and the diverse structure of Polish industry has additionally become resistant to external influence. From 2015 to May 2022, the industry in the European Union uses products only 8.6 percent, when you participate with us by 51.9 percent. Poland is at the forefront of additional growth in the EU. In 2021, the central production by 14.8 percent, and after six months of 2022 it was higher by 13 percent. y/y
We support Polish exporters
In order to reduce the uncertainty arising from the supply function, Polish contractors must necessarily act to diversify sales and acquire new ones. As the Ministry of Agriculture and Technology, we support Polish exporters: we increase barriers to access to exports, we promote the use of the free trade agreement, we strive to protect the market against unfair imports. We support instruments and tools that promote and strengthen exports, offered by PARP and PFR Group institutions, i.e. PAIH, KUKE, KUKE Finance, PFR TFI and BGK.
Thanks to the fact that the development of an initiative can be innovative, better use of available resources is possible. It is about the use of a software system, adaptation and development of infrastructure, including IT and digital.
Many actions effective today will support development throughout the period. Examples include plans to expand the military potential, development of transport infrastructure, e.g. through the Central Communication Port, railways and energy transformation. Funds from the National Reconstruction Plan will also help us in carrying out the necessary reforms and solutions.
When defining the shaping of changes in the Polish economy, one should take into account the effects of their actions, who have already proven many times that with their determination and selected work, taking into account the effect, they can help overcome many adversities. Companies entered the period of war in Ukraine in good condition, and the Polish labor market defends itself against an economic slowdown. The rate of registered in June 2022 was record low and amounted to 4.9 percent.
Employees who achieve a high level of education, practical skills and high qualifications also remain the strength of the Polish economy. One of the criteria in this area is to accelerate the implementation of vocational training and job placement policies to start the transition to new green jobs in an era of accelerated decarbonisation.
In the process of progressing digitization and automation, the way work is organized and the roles of employees are changing. Their determination will increasingly concern the analysis of the production process – in addition to its coordination or decision-making – and the definition of its procedure and the performance of machine activities.
We are an effective, politically effective barrier with strong foundations. The Polish economy continues to operate outside the turmoil. In your new forecast, the European Commission raised our growth expectations to 5.2%. in 2022, the International Monetary Fund, that we will support 4.5 percent in the temple.
The Polish economy is a solid brand. Our products were considered comparable not only because of their competitive prices, but also because of their high quality. All this allows us not only to enter our position as a development leader in the region of Central and Eastern Europe, but also to aspire to the role of one of the main economies of the EU.
Waldemar Buda, Minister of Development and Technology
Text published in the electronic version of “Polish Compass 2022” available for free download at www.gb.pl and in the “Gazeta Bankowa” application on a mobile device
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