Poland 

Poland country policy

Policy established 02 July 2007

• ILC, bank guarantee or central public guarantee (conditional)
• The country ceiling is 2000 mln euro
• Early warning signal 1500 mln euro
• - of which was used as at 2010-07-31 161 mln euro

Country class: 2

Poland country facts

Atradius DSB Economic Research
Country Report last updated 19 June 2010
Country POLAND 

Political Situation
 
Stable 

Head of state

president Bronislaw Komorowski. 

Form of government
Coalition of the Civic Platform (PO) and the Peasants Party (PSL), headed by p.m. Donald Tusk.
 
Internal Economic Situation
Recovering

General situation
Despite fallen exports Poland was in 2009 the only EU-economy that escaped a recession thanks to a less than expected fall of domestic demand, counter-cyclical
Qualification economic management
In the coming years budgetary consolidation to reduce the deficit will get priority, incl. privatisations.  

 
External Economic Situation
Reasonable 

Main sources of foreign exchange
Machinery and transports (41%), metal products (13%), chemicals (14%), agriculture (8%); EU-/workers’ transfers.

Main foreign markets
EU (79%, of which Germany 26%), Russia (9%).

Main expenses of foreign exchange
Capital goods (38%), intermediate products (22%).

 
Balance of payments 
Imports have dropped much faster than Polish exports, contributing to a strongly improved trade position and less high current account deficits. These deficits are financed by FDI-inflows and by (private sector) borrowing abroad but these capital imports have fallen markedly due to the global credit crisis and its adverse regional sentiments which is also an explaining factor for the continuing volatility of the zloty.