Sunday, October 21, 2018

Poland’s economic freedom score is 68.5, (click here) making its economy the 45th freest in the 2018 Index. Its overall score has increased by 0.2 point, with improved fiscal health and labor freedom scores outpacing a decline in government integrity. Poland is ranked 21st among 44 countries in the Europe region, and its overall score is below the regional average but above the world average.

Pay attention, Wall Street doesn't like it when governments have social programs to protect human beings that are citizens. Poland had a 1.3 percent growth in 2009, while every other major country in the world was losing their shirts, Poland maintained a positive growth rate. And what do the people of Poland get for that, diminished importance in social programs by Wall Street. Amazing. Poland proved resilient to global downturns and is slighted for engaging social programs. Wall Street are a bunch of ingrates.

Prioritization of social welfare spending (about 32 percent of the government budget) has prompted investors to lower Poland’s economic growth projections for the next few years. Past structural reforms like trade liberalization, low corporate taxes, and a business-friendly regulatory environment facilitated the transition to a market-oriented economy. Remaining systemic challenges include deficiencies in road and rail infrastructure, a rigid labor code, a weak commercial court system, government red tape, and a burdensome tax system for entrepreneurs. Reforms are also needed to buttress the independence of the judiciary and reduce opportunities for corruption.