Poland’s economy is less affected by the pandemic and is recovering quicker from it. Small wonder German firms seek to tap into this growth potential, and aiming to profit from Poland’s economic transformation ahead.
Since the Law and Justice Party (PiS) came to power in 2015, the EU’s sixth-largest economy has drawn attention primarily over its alleged democratic backsliding. At the same time, however, the resilience of the Polish economy has been astonishing.
The European Bank for Reconstruction and Development (EBRD) expects 3% growth in 2021, which would make Poland the only EU member to reach its pre-crisis level by the end of 2021. The country has grown from 49% to 70% of the EU’s average economic wages since joining the EU in 2004 and in November Poland was again number three in the EU in terms of industrial production growth.
Economy Minister Jaroslaw Gowin has told the German business daily Handelsblatt recently: “Many Polish companies have used the pandemic to reorganize themselves, digitize more and step in where other supply chains have been torn down.”