Poland’s Economic Challenges: A Call for Strategic Policy
In a recent interview, Professor Zbigniew Krysiak, head of the Program Council of the Schuman Thought Institute, shed light on the economic woes facing Poland. He highlighted concerns over rising unemployment, sluggish GDP growth, and the troubling trend of inadequate wage growth in the face of inflation.
Initially projected at over 3%, Poland’s GDP growth for 2024 has been downgraded to around 2%, with fears it could plummet even lower. Despite a nominal increase in wages, the real purchasing power is being eroded by inflation, especially in essential sectors like food and housing.
Prof. Krysiak also raised red flags about the labor market, potential worker shortages, and the banking sector’s hesitance to provide credit to small businesses. He urged the government to improve immigration policies to attract workers from diverse countries like India, Vietnam, and other EU nations.
With a bleak outlook for SMEs due to limited credit and lack of investment, Prof. Krysiak emphasized the urgent need for a coherent economic policy to tackle these pressing issues and revitalize the Polish economy.