“If it depended on me, I would draw more attention of decision-makers to the performance of public employment services,” writes Jan Baran, winner of the second edition of the Obserwator Finansowy’s competition. The author proposes a number of solutions that have proved effective in other countries.
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.
The current decade will not be a golden one for Poland. There is a chance, though, the decade will not be lost. In the coming decade, Poland may grow at an average rate of 3% per year. This is less than in the past 20 years but a slowdown accompanying a growth in the wealth of a country is quite natural.
Macroprudential supervision is the copestone of the global financial safety that has emerged as a lesson learned from the crisis. Institutions responsible for carrying out macroprudential supervision have been established in many countries. Generally, this role is performed by central banks. Poland lags behind but the National Bank of Poland has developed a legislative proposal that would provide grounds for establishing macroprudential supervision in our country, too.
Government advertising campaigns tend to put people to sleep, but a startling exception is the ongoing campaign to boost investment in eastern Poland, with US economics commentator Matt Yglesias calling it the “The Greatest Economic Development Poster of All Time.”
“The new inflation projection shows that there is room for a safe decrease in interest rates, and so the Monetary Policy Council made a fairly radical cut. The Council had been moderate in its responses to the increase in inflation, whose sources were external. Inflation targeting strategy is about responding flexibly, not frantically,” said Professor Marek Belka, President of the NBP, in an interview for Financial Observer.
During the depths of the eurozone crisis just a few months ago, anyone suggesting that Poland ought to seriously start considering joining the euro would have been a candidate for a mental health check-up. But that is exactly what is happening, as Premier Donald Tusk and President Bronisław Komorowski kick off discussions on Poland's path to the common currency.