It will be 25 years on 23 December since the Act on Economic Activity, popularly called Wilczek’s bill, was passed. It introduced into the stubborn reality the rule that what is not prohibited is permitted. State regulation was reduced. This act is commonly considered to be the “Sevres standard” for free-market economic reforms. Is this a deserved opinion?
In 2012, the EU decreased its total carbon dioxide emissions by 2.3 per cent. Even though Poland has been given bad press in this matter, it managed to decrease them by 3 per cent. In the U.S., emissions were reduced by 4 per cent, while in China they continue to rise, albeit at a slower pace. The EU has launched a crusade against global warming, but other countries have a more pragmatic approach to the issue, which is why the climate summit in Warsaw may end in failure.
According to data published by Eurostat and the European Commission Poles are raising labour efficiency while the wage share in Poland’s GDP is among the lowest in the EU and continues to deteriorate. Yet, employers are reluctant to increase wages. For workers to feel wage growth similar to their productivity growth, there must be a stable tax system and more investment.
In his report, World Bank analyst Marcin Piątkowski predicts Poland’s new golden age. Relative to Western European countries, Poland’s GDP is the highest in 500 years. In 10 years, Warsaw is expected to be a better place to live in than London. It will be appreciated by immigrants from the East, whom we should start attracting now.
Changes in the pension system are neutral for Poland’s present rating but may limit upward mobility of Poland’s rating from the current A2 level. Such a degree of reform reversal would not be likely in countries with the highest rating, says Jaime Reusche, an analyst in the group of sovereign credit risk at Moody’s Investors Service.
Poles have not been hit by ‘seven misfortunes’ because of the global economic crisis. People are becoming more and more affluent and, generally, satisfied. We believe that the unemployment rate in Poland, including the hidden unemployment, is 10.3 per cent - says prof. Janusz Czapiński, the author of “Social Diagnosis".
We are adept at assembling and tightening screws, but by doing so, Poland falls into the trap of low technology and medium income. We need to change our approach to the economy, and then consistently implement a new plan - says Professor Jerzy Hausner, the chief author of the report on the competitiveness of the Polish economy.
Today, at a meeting convened by the Polish President, Professor Jerzy Hausner shall present a report entitled “How to make headway in the world league?” According to its authors, the Polish economy is now at a turning point. We can either change the economy and stimulate its highly innovative sectors, or lose the competitive advantage of our low cost labour, and thus sacrifice the country’s economic growth.
Four months into budget implementation, the State budget deficit amounted to PLN 31.7 billion, that is nearly 90 per cent of the total value planned for the year. It is almost certain that tax revenues will be lower than expected. The introduction of an amendment to the budget act, the first one since 2009, is however uncertain, as this is always a last resort measure for any government determined to protect its public image.