Approximately 10 million non-cash transactions are carried out daily in Poland and more than half of them are conducted without the use of payment cards. They are performed with the participation of banks via the National Clearing House (pol. Krajowa Izba Rozliczeniowa — KIR). This unvarying picture may soon be subject to a radical change. The market for payment settlements has just been opened to non-bank entities that have been waiting for such an opportunity for a long time.
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 Ministry of Transport, Construction and Maritime Economy promises that the construction of the faulty network of motorways and expressways will be completed by 2020. This will, however, be achieved partly at the expense of investment in lower category roads. Consequently, European Union funding for investments that are less important on the national level, but nevertheless constitute major investments, will be shut off.
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.
The power industry, threatened with restructuring, is lobbying for a further injection of cash at the expense of customers; they justify it with the threat of a potential blackout. Only those investment projects that are crucial for ensuring an uninterrupted supply of energy for several years to come should benefit from support. Otherwise, the liberalization of the market will make a 20-year step back.
The main result of the privatization of the Polish chemical sector, founded on the principle of "have your cake and eat it", is the growing debt of companies from this sector. A real privatization seems to be an increasingly unrealistic prospect. The government focuses its efforts on opposing Russian investment plans.
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.