– IMF forecasts should be read like terms and conditions of insurance contracts – with attention to detail. What is written in block letters is often less important than the footnotes. The Fund did indeed move this year’s growth forecasts for Poland’s GDP from 4.1 percent to 4.4 percent. In terms of GDP per capita, Portugal will soon find itself behind Poland – he explains.
– However, those who are getting ready to open their champagne bottles should rather leave them be. The IMF writes that in the coming years, both Poland’s participation in the global economy and our growth rate will systematically decrease. Not only due to the global downturn, which – according to IMF experts – is right around the corner. Other economies will simply grow faster. Why? Let us return to the analogy with terms and conditions. This is where the crucial small print comes into play: the IMF points to Poland’s weaknesses: unfavorable demographic trends and structural issues – he adds.
– After all, what else could they say when the state, despite facing acute workforce shortages, lowers the pension age? When it does not have an active immigration policy? These problems are not lighting out of the blue sky – they are consequences of the actions of politicians and administration officials. In the race for economic growth we are shooting ourselves in the foot – warns the President of Employers of Poland.
The article is available here.
