Poland: Fast growing economy needs reform

Dec. 14, 2007 at 11:00 AM   |   0 comments

WARSAW, Poland, Dec. 14 (UPI) -- Despite its fast growing economy, Poland needs reforms that will reduce government red tape to make doing business easier in the country.

Jacek Wojciechowicz of World Bank Poland said the former conservative government of nationalist Prime Minister Jaroslaw Kaczynski had failed to work out conditions that would have helped investors doing business in Poland, Polish Radio reported Friday.

Wojciechowicz said Poland needed to speed up introducing reforms as many other countries might overtake it.

A recent World Bank report published alarming figures about Poland, whose business ranking for 2008 is expected to drop by six places when compared with 2007.

Wojciechowicz said Poland's performance was fine in international trade procedures, in settling claims between companies and in protecting investors against disloyal managers.

But in other areas the country's economy badly needed reforms, such as in obtaining licenses or building permits to construct warehouses and buildings, in opening a business, and in a time-consuming process of paying various taxes during a year, he said.

Liberal pro-EU Prime Minister Donald Tusk, who took office in mid-November, has promised to reduce bureaucratic regulations that hamper economic development.

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