Report: Poland could become a ‘globally competitive’ economy by 2025
PR dla Zagranicy
Roberto Galea
27.02.2015 14:58
If Poland realises the more ambitious of two scenarios, it could become an economic powerhouse over the next decade, says a new report by management consulting firm McKinsey & Company.
Photo: Flickr.com/Chris RubberDragon
Poland has two options, the report by the NY-based firm, said. “Under a conservative, business-as-usual scenario, Poland’s GDP would grow at a moderate rate of 2.6 percent annually—the average rate since 2008.”
However, should Poland choose an accelerated growth path to 2025, the country could: “move from the eighth to the seventh largest economy in the EU”, “become the third-largest process manufacturer in the EU”, and also “attain levels of Italy, Spain, and Portugal in GDP per capita.”
Source: McKinsey
“Over the last 25 years Polish economy doubled in size, as measured in terms of real GDP,” the report read.
In terms of GDP per capita (at PPP), the largest economy in Central and Eastern Europe “narrowed the gap by nearly half, moving from 32 to 60 percent of the Western European average (EU-15).”
Over the 1991-2008 period, annual GDP growth measured 4.6 percent. “The growth continued thereafter, as Poland was the only country in the European Union to avoid recession during the financial crisis. Today Poland is the eight-largest economy in the European Union in real GDP terms and can look back with pride on an impressive history of growth over more than two decades.” (rg)