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Poland drops in global economic dynamism ranking due to slow reform pace


2011-09-15



Poland has slipped three places to 29th in the world in an annual ranking of the most dynamic economies prepared by Instytut Globalizacji, a think-tank. As a result, it lost the mantle of the highest-ranking CEE country to Russia, which moved up eight notches to 20th. The Czech Republic also pulled ahead of Poland, advancing five notches to 25th. Slovakia improved its standing by eight notches compared with last year to finish 35th, while Hungary climbed four places to 36th .

The Institute notes that Poland’s position is fairly stable (in 2009 the country ranked 28th), but that it is not doing enough to realise the potential of free trade and economic freedom. Also, more ambitious public finance reform is needed to address rising general government deficit, relatively high inflation, and slow job creation.

The 2011 edition also saw a major shakeup at the top. Singapore won the 2011 rankings after climbing from third place, while China, the winner in 2010, dropped to fourth. Germany advanced to second from fifth, while Hong Kong slipped one notch to third.

The ranking measures the economic performance of 50 countries on the basis of eight indicators: annual change in GDP, GDP per capita, unemployment, inflation, central budget balance, value of exports, imports and foreign direct investments.



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