The GDP of Mazowieckie, Śląskie, Wielkopolskie, Dolnośląskie, Małopolskie and Łódzkie amounts to 66.4 per cent of Poland’s total gross domestic product, says the recent Central Statistical Office’s ranking for 2013. Mazowieckie, the country’s largest region, both in terms of population and area with the capital city of Warsaw, is the country’s richest province and generates more than a fifth of Poland’s GDP (21.9 per cent).
A stuttering recovery in the Euro Area and slowing growth in the Russian Federation have posed headwinds to developing Europe and Central Asia, says the World Bank’s Global Economic Prospects report.
The conflict between Russia and Ukraine has taken a severe toll on Ukraine’s economy, with output estimated to have contracted an estimated 8.2 per cent in 2014.
Between 2014-2020, 16 Polish regions will receive €31 billion of European Funds, 25 per cent more than from the 2007-2014 budget. Over €22 billion from the European Regional Development Fund (ERDF) will be spent on infrastructural projects and support for entrepreneurs. The remaining €9 billion from the European Social Fund (ESF) is supposed to help lower unemployment, improve quality of life and increase skills and qualifications.
Despite the new geopolitical instability financial markets proved resilience of the CEE region since the direct impact of the sanctions imposed by Russia on CEE is close to zero, according to the Erste Group Research Horoscope 2015.
Polish special economic zones are one of the key tools for boosting Poland’s appeal and ensuring the further economic growth. According to KPMG, the total investment projected by the end of 2014 amounted to 149 billion Polish zloty or 35 billion euro, with companies creating 287,000 jobs. Located in almost all regions, the 14 special economic zones have a total area of over 18,000 hectares. On average, less than 2/3 of available land is already occupied.
Poland has 8,478 rapidly expanding firms employing over 900,000 staff, equivalent to more than 100 each, says Von Essen, the leader in international & offshore contractual support, legal & tax advisory services and global mobility. The company’s analysts say this reflects Poland’s drive to gain ground on the core members of the EU since its accession a decade ago in terms of economic development.
The common currency will help the Lithuanian economy grow after the country becomes the 19th member of the Eurozone on 1 January 2015, says EY’s Eurozone Forecast December 2015.
Polish people also say they have the necessary capabilities and knowledge to run a business – 52 per cent of them believes they are well prepared run a business, compared to the EU average of 42 per cent, says the Global Entrepreneurship Monitor Poland Report 2013.
Bans on the import of food products applied by Russia to EU countries which supported the sanctions against Russia were doomed to fail to hit CEE economies, says Erste Group’s special report CEE well prepared for ‘Russian winter.’
The total value of the region’s national brands amounts to $1,289 billion, says the recent Brand Finance Nation Brands 2014 report, and is 16 per cent higher than in 2013. If combined, Poland, the Czech Republic, Romania, Hungary, Slovenia, Slovakia, Bulgaria, Lithuania, Croatia, Latvia and Estonia, are worth slightly more than Italy, the 11th country in the ranking. In 2013, the total value placed the whole region behind Russia, in the 12 position.
Emerging Europe’s average score in Transparency International’s Corruption Perceptions Index is going up. Since last year, it has improved by 1.5 points and reached 52 points in the scale between 0 as highly corrupt and 100 — very clean. Nine out of 12 Emerging Europe countries have scored better than last year.
In 2013, foreign direct investment to Romania and Poland accounted to 11.62 per cent of all FDI inflow to the Old Continent, says fDi Intelligence’d Global Greenfield Investment Trends Report 2014.