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Summary of Economic Surveys: Poland
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
The paper focuses on the major structural reforms necessary to prepare for euro adoption that should allow a sustainable fulfilment of the Maastricht criteria and maximisation of the ensuing various benefits.
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Speech by Andrew Dean, Director, OECD Economics Department. Launch of the Economic Survey of Poland 2010
The Polish economy has become increasingly connected with the international economy, but challenges are widespread to improve Poland’s position in global markets.
Poland recorded strong relative performance during the crisis, but implementing a credible fiscal consolidation is the main challenge. The withdrawal of monetary stimulus should begin soon if fiscal policy is not tightened significantly in the immediate future.
Major structural reforms are necessary to prepare for euro adoption, all the more as the process of real and nominal convergence remains largely incomplete. This requires a substantial strengthening of alternative adjustment mechanisms to domestic interest- and exchange-rate changes.
Poland recorded a strong relative performance in 2009 given the global downturn. The survey looks at how to ensure balanced growth going forward, strengthen public finances, prepare for euro adoption and make the most of globalisation.
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This note is taken from Chapter 3 of Economic Policy Reforms: Going for Growth 2010.
The OECD and the European Investment Bank have agreed to share their expertise in support of economic co-operation and sustainable development. OECD Secretary-General Angel Gurría and EIB President Philippe Maystadt signed a co-operation agreement to that effect today in Paris.