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Poland’s productivity has grown strongly over the past decade, and efforts to reduce the regulatory burden have been significant. Despite impressive progress, product market regulation remains more burdensome than in most OECD countries, partly due to the importance of red tape and the level of state involvement in the economy.
Poor labour market outcomes remain one of Poland’s major structural weaknesses, impeding firms’ competitiveness and the nation’s potential output. Boosting employment prospects is also critical, as the country will soon be ageing at a fast pace.
Poland’s overall economic performance has been impressive over the last decade. Yet, important challenges remain ahead. Making the labour market work better and strengthening product market competition would boost economic prospects.
Poland’s economic performance has been impressive over the past 15 years, but further reforms are now needed to put the economy firmly back on track for stronger and sustainable growth, according to the OECD’s latest Economic Survey of Poland.
A broad agenda of reforms in four areas – labour markets, education, product markets and innovation – should strengthen Poland’s economy and allow it to continue its path of convergence towards the income levels of the more affluent OECD economies, said Angel Gurría during a seminar in Warsaw.
Notwithstanding a very strong economic performance over the past decade or so, Poland’s per capita income is substantially lower in comparison with the United States and per capita income growth will be sharply slowing down over the coming decades under the scenario of gradual policy changes mostly because of population ageing.
Throughout the global and European economic crisis, Poland has been the OECD’s champion in terms of cumulative real GDP growth. But Poland must continue to build on its past achievements and make further progress in areas where reforms are needed to sustain strong growth in the years to come.
W okresie globalnego kryzysu gospodarczego Polska wyróżniła się na tle państw OECD dzięki znacznie szybszemu wzrostowi gospodarczemu w porównaniu do większości państw oraz imponującemu sukcesowi w zakresie redukcji różnic dochodów w porównaniu ze swoimi europejskimi partnerami.
Poland has been a strong performer across the OECD through the global economic crisis, growing much faster than most other countries and making impressive steps toward reducing the income gap with its European Union partners, according to the OECD’s latest economic survey.
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.