High spirits: Poland continues to act as central and eastern Europe
Will Poland, and especially Warsaw, remain the favourite in central and eastern Europe also in the future? In terms of the country’s economy, 2014 can be divided into two periods. During the first one, GDP growth forecasts for the country were upgraded, but the prolonged crisis in Ukraine led to a reassessment of the numbers. Nearly 10 percent of Poland’s exports go to Russia and Ukraine, and that is why the situation in the east has a significant impact on the country’s economy. Currently, annual GDP growth in Poland is estimated to be some 3.0 percent. Although the mood is not so positive as it was at the beginning of 2014, the numbers are still far better than the growth observed in 2013, a much smaller 1.4 percent.
It is not only the current macroeconomic figures that can work in favour of the country. Poland is the biggest economy in central and eastern Europe, and has always attracted foreign investors, primarily due to its huge internal market, soli