Telepolis reminded that for centuries the image of Poland in the wealthy part of Western Europe was clearly negative. The country was often considered poor and backward. Currently – as emphasized – the situation has changed dramatically, and international investors and the press are increasingly calling Poland “new Germany”, “the engine of Europe's growth” or “the undiscovered superstar of stock markets”.
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Stable economic development of Poland
According to Telepolis, one of the main reasons for Poland's change is stable economic development. Poland, with the exception of the coronavirus pandemic, has not experienced a recession for nearly 20 years, which is considered one of the greatest successes in the European Union.
The portal noted that although the growth rate was generally moderate, Foreign trade remains the pillar of development, accounting for nearly 90 percent. economy growth. Germany plays a key role in it, accounting for approximately 27 percent. Polish trade exchange – we read in Telepolis.
Germany is the largest investor in Poland
It was recalled that Germany is also the largest investor in Poland. Since 1990, they have invested approximately EUR 36 billion in the countrywhich provides the Polish economy with significant stability – it was noted.
Telepolis emphasized that a particularly important moment was Poland's accession to the EU in 2004. Thanks to this, the country was able to significantly increase the scale of foreign trade, and EU funds additionally fueled growth. As the Polish Economic Institute (PIE) points out, Without EU membership, the Polish economy would be as much as 40% lower today. weaker.
Telepolis concludes that the scale of praise for Poland shows how much the country's image has changed. “Although it is still clearly lagging behind Germany, its transformation over the last two decades is one of the greatest successes in the European Union,” it concluded.
