Polish President Andrzej Duda joined the mornings with Maria at the World Economic Forum in Davos, Switzerland, to discuss the effect of Trump’s presidency will have on the world economy.
Nothing seems to hinder Poland by force despite part of the slow European Union. There are several reasons why and many facets, including the country’s exceptional defense expenses and his conservative approach to Donald Trump for illegal immigration.
At the end of last month, Poland’s economy would have increased 2.9% last year, according to the country’s statoffice. This performance underlies the single currency area of Europe, also known as the euro zone, more than triple; He failed only 0.7% over the same period.
Poland’s growth has also exceeded the United States, which increased by 2.5% in the 12 months until December.
“Last year or two saw a boom, and he got advertising,” said Mateusz Urban, principal economist at Oxford Economics in Warsaw, Poland, Fox Business. “There is really a European tiger at the door of Germany.”
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Consumers walk through a shopping center in Warsaw, the capital of Poland, on July 4, 2024. (Dominika Zarzycka / Nurphoto via Getty Images / Getty Images)
This is not a unique event. By 2024, Poland’s economy had increased to 11 times larger in 1986. This considerably exceeded the United States, which increased its economy to six times greater over the same period, according to data from Trading Economics.
Urban says that a large part of Poland’s rapid growth involved unlocking human capital after the collapse of the Soviet Union. During the many decades of the USSR rule, the government has devoted a lot of efforts to educate people in mathematics, science and engineering, and the continuous impact of these universities and schools is always very appreciated.
“These types of institutions have a long -term inheritance,” said Urban. “After 1989, Poland inherited a fairly well -organized system which managed to produce a good number of specialists in mechanical engineering and information technology.”
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This concentration on science, technology, engineering and mathematics helped the country build an impressive technological sector estimated at $ 32 billion, or 4.5% of the economy this year, according to the Mordor Intelligence Research Company .
Polish workers are also “very workers, with high and cheaper standards to employ than people from the United Kingdom,” Fox Business Elias Haddad told Senior Markets Stage at Brown Brothers Harriman in London.
Another factor in Poland benefits from the appointment of the EU veteran, Donald Tusk, as Prime Minister in December 2023. Before him, the Polish law and justice party led by Mateusz Jakub Morawiecki, had been sanctioned by the European Commission [EC] Due to the conviction that the judiciary of Poland was not independent of the government.
“The party did not respect some of the EU rules,” said Haddad.
The white and red national flag of Poland and the European Union flag in Brandenburg. (Patrick Pleul / Picture Alliance via Getty Images / Getty Images)
The result was the CE restrained by the EU funds intended to help Poland. But now, with Tusk firmly on the hot seat, EU money should all be released, which gives the economy another boost.
While the country increases rapidly, it is also on the front line of NATO, the military alliance founded after the Second World War, limiting Ukraine. The country should spend 4.7% of its GDP in defense this year, which represents a higher percentage than any other member of NATO, and it also paved the way in 2024.
“We are aware that Germany will not be able to save Poland,” said Urban. “This is why the government pushes expenses to almost 5% of GDP.”
For decades, Germany has failed to reach its NATO commitment to spend at least 2% of GDP in defense, according to the World Bank. In 2024, he reached 2.1%.
While Poland responded positively to the Ukrainian-Russian war during this period, it also took a burden of more than 7 million refugees in Ukraine.
“Since the war, we have become an attractive place for immigration and refugees,” Fox Business Marcin Klucznik told Fox Business, the principal of the Polish Economic Institute’s world economy.
A man wears a “Make Polar Great Again” cap while attending the independence march to celebrate the 106th anniversary of Poland Regaining Independence in Warsaw, Poland, November 11, 2024. (Beata Zawrzel / Nurphoto via Getty Images / Getty Images)
However, this massive influx has led to discussions on WHO Poland wants to attract to his country, says Klucznik. Last month, Rafał Trzaskowski, candidate for the presidency of Poland, asked the government to stop paying so -called children’s subsidies to the Ukrainians with children but who do not officially work. He said only those who work and paying their taxes should obtain state aid.
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Klucznik said the country is conservative and cautious with its immigration policy.
“We are aware of some of the errors made by other European countries such as Germany, France and the United Kingdom, and we want to avoid part of this,” he said.
In particular, these three large countries have failed to bring many immigrants to integrate fully into the local culture.
