Poland’s economy has shown impressive resilience during global economic downturns, particularly since the 2008-2009 financial crisis. Notably, in 2009, while many neighboring countries experienced a recession, Poland maintained economic stability. Despite recent challenges since 2020 that have slowed GDP growth, Poland’s strong fiscal policies allowed for effective supportive measures. As of early 2024, Poland remains one of the best-performing economies in its region, with Q1 GDP exceeding pre-COVID levels by more than 11%.
Poland’s economic position within the European Union has strengthened, with its GDP in purchasing power parity and market share on the rise. Since its 2004 EU membership, Poland has seen its GDP per capita more than double in volume over 20 years, aided significantly by EU funds. The country continues to be a prime location for nearshoring, presenting attractive opportunities in both the short and medium term. While there are some fiscal challenges, such as the state of fiscal accounts and issues with CHF loans, these do not significantly undermine Poland’s strong fiscal and banking indicators.
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