2006 OECD Economic Surveys: Poland 2006

image of OECD Economic Surveys: Poland 2006

This edition of OECD's periodic review of Poland's economy finds that growth has strengthened again in Poland, but that higher rates of investment, further structural change, and improved labour and education policies are required to sustain this growth. After analysing the key economic challenges Poland faces, this Survey assesses monetary and exchange rate policies, examines what is needed to achieve fiscal sustainability, and looks at how Poland can boost and adapt human capital through improved education. It closes with at chapter on structural adjustment covering sectoral reallocation, entrepreneurship and innovation, and labour market reform.

English Polish, French


Monetary and Exchange Rate Policies

Monetary policymakers have successfully consolidated a lowinflation environment in Poland, ridding it of a major problem. The inflation-targeting regime is now well established, and both the economy and policy-making arrangements have shown a strong degree of resilience in the face of sharp swings in the real exchange rate. With the benefit of hindsight it seems that monetary settings may have been temporarily too tight in reaction to what turned out to be a short-lived increase in inflation after EU accession.

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