German Finance Minister Lars Klingbeil visits Poland, the “land of growth,” questioning what Poles do better economically than Germans.
Strong Economy, Weak Government?
The author of the report notes that Poland manages to maintain economic growth despite political instability. “Strong economy, weak government – this is how one can characterize the situation in Poland” – we read. The newspaper notes that unlike most large EU economies, Poland is not in the eurozone, and Polish Minister Andrzej Domański suggests that the country is not eager to quickly adopt the common currency.
“Due to the high budget deficit Poles would anyway have big problems meeting the accession criteria. It remains at a level of over six percent, which is more than twice as high as specified in the Maastricht Treaty regulating the protection of the common currency.”
Debt is Growing
“Frankfurter Allgemeine Zeitung” also notes that in recent years Poland has caught up with Germany in terms of public debt. While in 2022 it was still significantly lower in Poland than in Germany, now both countries are at a similar level. It is estimated that this year’s debt will be around 65 percent of GDP.
“However, even if the debt relative to economic strength is currently the same, there is still a significant difference: in Germany, the economic recovery remains weak and powerless. It seems that the Germans are full, while the Poles are still hungry. Last year their economy grew by 3.6 percent.”
Poland Invited to G20
As a result of sustained economic growth, Poland was invited by the US President to the upcoming G20 meeting of the world’s twenty largest economies. “It seems almost logical” – we read.
The newspaper notes that vetoes from President Karol Nawrocki prevent the government from withdrawing controversial justice reforms carried out under PiS, which, according to the EU Justice Tribunal, are contrary to EU law.
“Although nothing has changed in this matter, the country, unlike Hungary, benefits from high transfers from Brussels – probably in order not to additionally complicate life for the Tusk government” – we read in the article titled “On a visit to the economic growth locomotive – Poland”.
