According to the European Commission's forecasts, Poland's GDP will shrink by only 4.3 percent in 2020, with data for the entire Union at 7.4 percent. The phenomenon of the Polish economy is described by the German portal Focus Online, emphasizing that Poland can gently go through the crisis caused by the coronavirus.
The portal says that Poland has become a phenomenon for European economists. "The country senses its chance to be promoted to the top league of European economies". - writes Focus Online.
Hillebrand about the help package
Why Poland is coming out of the coronavirus crisis with a defensive hand is explained to Ernst Hillebrand, political scientist and head of the Warsaw branch of the German Friedrich Ebert Foundation.
The first factor of Poland's good economic situation is, according to the expert, a "widely developed economy", which is not entirely dependent on exports. "None of its sectors represents over 15% of foreign trade". - highlights Hillebrand.
The second factor determining the significant reduction of economic losses associated with COVID-19 is the early reaction of the Polish "conservative Law and Justice government". The generous aid package allowed to "avoid bankruptcies and serious job losses - just like so far in Germany". - says Hillebrand.
The expert also notes that the strengthening of the national economy through an active social policy has begun to bear fruit. The consumption provided by the internal market is 58 percent of GDP," he explains.
"The fact that the (Polish) government has long taken domestic demand seriously makes the Polish economy less vulnerable and more resistant to the global crisis," says Focus Online, head of the German foundation.
According to the portal, EU investments are part of the foundations of the Polish economy. Although this principle also applies to other countries, it is Poland that is becoming increasingly attractive to investors.
The material in Focus Online is another text in the German media that praises the actions of the Polish government during the pandemic. Earlier, the daily newspaper "Die Welt" wrote that Poland has overcome the 2009 euro crisis, the 2015 refugee crisis and now the coronavirus crisis. "From the coronavirus pandemic, Poland may even emerge stronger." - - stressed Die Welt.