A bit of Polish financial miracle? – EURACTIV.com
The Polish economic system has recovered remarkably regardless of being hit laborious by the coronavirus pandemic and the nation’s unemployment price is at the moment the bottom within the EU, in keeping with German TV channel ZDF.
In response to German broadcaster, the primary purpose for the “constructive” state of affairs in Poland is the nation’s low dependence on its tourism and repair sectors – which had been among the many sectors most affected throughout the pandemic.
As a substitute, Poland targeted on industrial manufacturing, which didn’t undergo such a deep disaster.
This isn’t the primary time that the German press has spoken of a “little Polish financial miracle”. In February, the German press additionally identified that “the resilience of the Polish economic system – and above all the nice prospects – in Europe are astonishing”.
Main Financial Journal Handlesblatt, for instance, wrote that no different EU nation was going by way of the pandemic as simply as Poland, which “was the one EU nation to outlive the worldwide disaster with no recession”.
In response to Kai-Olaf Lang, head of the analysis group on EU integration on the Basis for Science and Coverage, this improvement might be defined by a number of components, together with “the robust and huge Polish trade, supported by exports ”.
Poland has primarily targeted on the manufacturing of sturdy shopper items, comparable to furnishings and shopper electronics, for which demand has elevated throughout the pandemic. (Joanna Jakubowska | EURACTIV.pl)