Less than two years after being promoted to a developed economy, Poland has again succeeded specularly in a very difficult year. The strength and resilience of the Polish economy can be attributed to its large internal market, rapid and far-reaching economic reforms and prudent policies, with a coherent EU strategy as the top priority, serving as an important discipline for political and economic integration. A dynamic entrepreneurial landscape of small and medium-sized enterprises (SMEs) benefiting from a large internal market and strong competitive advantages in neighboring European countries is also an important source of growth.
However, key to this year success was the Polish very measured response to Covid-19. Unlike the overreactions we could see in some Western European countries, the Polish Governement was very cautious, imitating their German neighbors, in a even lighter measure, with no lockdown nor closing of everyday life facilities.
And while it is certain that the economy will suffer a slowdown, the slowdown is minimal . According to Standard&Poors , the COVID-19 pandemic will cause Poland’s economy to shrink by only 3.4 percent in 2020. The agency has affirmed keeping Poland’s credit rating unchanged at the level of A-/A-2 for long and short term liabilities, respectively, in foreign currency, and A/A-1 for long and short term liabilities, respectively, in local currency, with a stable outlook.
Blue Europe officially praises this moderate policy, as highly effective and respectful of individual and economic liberties.
