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Polish Business Report Predicts Great 2010 For Polish Economy
Warsaw, Poland 16 January 2010 - The year 2010 is set to be a great year for a strong Polish economy. According to a private employers group in Poland, expect higher economic growth than in 2009, more investment in innovation and wiser spending of EU funds by businesses.
Poland’s Confederation of Private Employers “Lewiatan” expert Dr Malgorzata Krzysztoszek said this year’s economic growth should be between 1.7 and 3 per cent.
“This year business will also have a greater chance to realize serious ventures. They are starting to seriously consider investing in innovation. Today winning the competition war is possible on the Polish and also international market, by offering something better than everyone else, that is: innovation,” Dr Krzysztoszek said.
She also predicts a fall of inflation in the coming months,and that most of the EU funds that Poland has to spend until 2013 will probably be spent this year.
“That will definitely support the Polish economy,” she said.
Polish medium and large business can also expect somewhere in the region of an 8 per cent increase on their profits this year, compared to an average 2 per cent last year.
And companies employing more than 50 people can reach a NET financial result of nearly 100 billion PLN compared to some 80 billion last year.
But the expert sees a weakness in the economy which might threaten prosperity in this year and next in the form of public spending. She said that if State debts are kept below the 55 per cent GDP mark, it will be the first small step on the long road of public financial reform which lies ahead.
She also forsees rising energy costs and an unstable course of the Polish Zloty.
“It won’t be as bad as the trends of 2008 and 2009, but it will destabilize commercial activity because importers can’t plan their profits or costs,” she said, and getting business loans won’t be easy, with banks distrustful of all but the best companies.
Dr Krzysztoszek hopes that 2010 will also be the year in which the Government will join in creating better conditions for commercial activity in Poland.
By Victoria Ziarkowski
Freelance Writer
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