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Poland scores 26th in global economic dynamism ranking


2010-11-03



Poland has moved up two places to 26th in the world in an annual ranking of the most dynamic economies prepared by Instytut Globalizacji, a think-tank. In doing so, the country overtook the Czech Republic as the highest-ranking CEE country.

China tops the 2010 edition after climbing four places, followed by Hong Kong and Singapore. The highest-scoring European economies are Switzerland (4th) and Germany (5th).

The Institute cautions that despite strong GDP growth, Poland has its fair share of problems, notably a swelling budget deficit and persistently high unemployment, and that unless major reforms are undertaken aimed at containing the deficit and improving the country’s investment attractiveness (e.g. by making the legal environment more stable), it may struggle to improve its position further. Indeed, its latest advance was mainly a result of the weakness of other countries, as its points score improved only on one of the eight parameters (inflation).

As for other CEE countries, the Czech Republic came 30th (down four), Hungary 40th (up three), Bulgaria 42nd (down one), Slovakia 43rd (down 10), Estonia 44th (up four), Romania 45th (down 13), while Lithuania and Latvia came bottom in 49th (down seven) and 50th (no change), respectively.

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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