Economic Regional Paper - Poland And The EU

3 Pages 739 Words

Regional Report - Poland and the EU
In order for a country to have economic and financial stability it is necessary for them to participate in fair trade with other countries. Globalization of the world economies will allow a more equal playing field to all participating countries provide access to fair trade of importing or exporting goods and services. This report will take a look at business opportunities and market shares the country of Poland has and compare those to the European Union (EU).
Poland's economic development has been remarkable since the start of Independent trade union "Solidarity" transition began in 1990. Services now account for more than 50% of gross net product and industry for only 24%, the building industry, nearly 7% and agriculture, some 3%. Over 60% of net value has been added in the private sector, which employs close on 70% of the labor force. This new economic structure of Poland closely resembles that of the EU members.
Poland’s economy had expanded rapidly since the mid-nineties, with annual growth rates of up to 7%. Poland did however suffer from economic downturns until the end of the decade. At 1.2%, real GDP growth in Poland in 2002 only slightly exceeded the figure for the previous year, the lowest in ten years. After stagnation for the most part in the first half of 2002, a slight recovery began in the second half. This momentum continued to increase in 2003 and by the year-end Poland’s gross domestic product had increased by 3.7%. This put Poland’s economy back on a growth path after two years of stagnation. The forecasts for 2004 predict economic growth of as much as 4-5%. The 1.7% rate of inflation in 2003 was well below 5% for the third year in a row giving proof to Poland’s successful anti-inflation policy in the nineties.
Poland has been dealing with two major economic problems, one is their national debt and the other is unemployment. Poland’s national debt is slowly ...