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Old Posted Jun 11, 2004, 8:18 AM
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SoboleuS SoboleuS is offline
Homo Mazoviensis
Join Date: Mar 2004
Location: Mazovia, EUropa
Posts: 95
BTW: Not only Warsaw is booming:

Polish economy posts 7 year growth record

Warsaw, Poland, Jun. 9 (UPI) -- The Polish economy grew by 6.9 percent year-on-year in the first quarter of 2004, official figures showed Wednesday.

The growth was above expectations and marked the fastest pace of gross domestic product development in seven years.

Economists said they now expected Poland to grow at a year-on-year rate of around 6 percent for the full year.

Poland, with a population of nearly 40 million, is as big as all the other nine countries combined, which also joined the European Union May 1.

Economic growth is heavily export driven with Poland's main markets being in the older members of the European Union such as Germany and France.

Strong growth in the Polish economy has heightened expectations of interest rate hikes from the central bank, which has already indicated it is concerned about the prospect of the economy overheating. Poland needs strong growth to help bring down an unemployment rate which stands at around 20 percent.

Here you can see the highs and lows of Polish growth in last years:

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