{"id":1631,"date":"2011-03-28T22:42:27","date_gmt":"2011-03-28T22:42:27","guid":{"rendered":"https:\/\/blogs.transparent.com\/polish\/?p=1631"},"modified":"2011-03-28T22:42:27","modified_gmt":"2011-03-28T22:42:27","slug":"polish-economy","status":"publish","type":"post","link":"https:\/\/blogs.transparent.com\/polish\/polish-economy\/","title":{"rendered":"Polish economy"},"content":{"rendered":"

Usually the first question people in USA ask me when they find out I\u2019m from Poland is: \u201cHow is economy (ekonomia)<\/strong> in Poland today?\u201d Poland is actually doing pretty good.<\/p>\n

Poland has pursued a policy of economic liberalization since 1990 and today stands out as a success story among transition economies. It is the only country in the European Union to maintain positive GDP growth through the 2008-2009 economic downturn. GDP per capita is still much below the EU average, but is similar to that of the three Baltic states. Since 2004, EU membership and access to EU structural funds have provided a major boost to the economy. Unemployment fell rapidly to 6.4% in October 2008, but climbed back to 11.8% for the year 2010, exceeding the EU average by more than 2%. Inflation reached a low of 2% in 2010 due to the global economic slowdown but has since climbed and is expected to remain around 3%, and close to the upper limit of the National Bank of Poland’s target rate. Poland’s economic performance could improve over the longer term if the country addresses some of the remaining deficiencies in its road and rail infrastructure and its business environment. An inefficient commercial court system, a rigid labor code, bureaucratic red tape, burdensome tax system, and persistent low-level corruption keep the private sector from performing up to its full potential. Rising demands to fund health care, education, and the state pension system caused the public sector budget deficit to rise to 7.9% of GDP in 2010. The PO\/PSL coalition government, which came to power in November 2007, has planned to reduce the budget deficit in 2011 and has also announced its intention to enact business-friendly reforms, increase workforce participation, reduce public sector spending growth, lower taxes, and accelerate privatization. The government has moved slowly on most major reforms, but has speeded up privatization.<\/p>\n

And now a little of economic vocabulary:<\/p>\n

Development in technology- rozw\u00f3j technologii<\/strong>
\nGrowth – Wzrost <\/strong>
\nIncrease in shareholder power- wzrost wp\u0142ywu udzia\u0142owc\u00f3w<\/strong>
\nFinancial scandals- skandale finansowe<\/strong>
\nTrade unions- zwi\u0105zki zawodowe<\/strong>
\nBureaucratic-biurokratyczny
\n<\/strong>Long runs- d\u0142ugie dzia\u0142anie<\/strong>
\nLifetime employment- zatrudnienie na ca\u0142e \u017cycie
\n<\/strong>Industrial- przemys\u0142owy
\n<\/strong>Shift- zmiana, zmienia\u0107 si\u0119<\/strong>
\nCustomer- klient
\n<\/strong>Engaged- Zaanga\u017cowany<\/strong>
\nWarehouses- magazyn
\n<\/strong>Network- sie\u0107<\/strong>
\nChoice- wyb\u00f3r
\n<\/strong>Economic activity- dzia\u0142alno\u015b\u0107 gospodarcza
\n<\/strong>Structures- struktury
\n<\/strong>Increase – wzrost<\/strong>
\nShareholder- udzia\u0142owiec<\/strong>
\nFlexible- elastyczny
\n<\/strong>Environment- otoczenie, \u015brodowisko
\n<\/strong>Merger- fuzja
\n<\/strong>Lease- dzier\u017cawa
\n<\/strong>Tangible assets- aktywa materialne<\/strong>
\nEntrepreneur- Przedsi\u0119biorca<\/strong>
\nSafety- bezpiecze\u0144stwo
\n<\/strong>Threaten- grozi\u0107
\n<\/strong>Share price- cena akcji
\n<\/strong>Staff- personel
\n<\/strong>Joint-stock company- sp\u00f3\u0142ka akcyjna<\/strong>
\nPublic limited company- sp\u00f3\u0142ka z ograniczon\u0105 odpowiedzialno\u015bci\u0105<\/strong>
\nStock exchange- gied\u0142a papier\u00f3w warto\u015bciowych<\/strong><\/p>\n

Competitive advantage– przewaga konkurencyjna<\/strong>
\n<\/strong>Rival- konkurent, rywal<\/strong>
\n<\/strong>Desirable- porz\u0105dany
\n<\/strong>In order to– w celu
\n<\/strong><\/strong>Brand– marka
\n<\/strong><\/strong>Straightforward- \u0142atwy, prosty<\/strong>
\n<\/strong>Source of profits- \u017ar\u00f3d\u0142o dochod\u00f3w<\/strong>
\n<\/strong>Showcase- zademonstrowa\u0107
\n<\/strong><\/strong><\/strong><\/p>\n

Do nast\u0119pnego razu! <\/strong>(Till next time\u2026)<\/p>\n","protected":false},"excerpt":{"rendered":"

Usually the first question people in USA ask me when they find out I\u2019m from Poland is: \u201cHow is economy (ekonomia) in Poland today?\u201d Poland is actually doing pretty good. Poland has pursued a policy of economic liberalization since 1990 and today stands out as a success story among transition economies. It is the only…<\/p>\n

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