Poland's high-income economy is considered to be one of the wealthiest of the post-Communist countries and is currently holds the one of the fastest growing in the EU. having one of the strong domestic markets, low private debt, flexible currency, and not depending on a single export sector, it is the only European country that has avoided the late-2000s recession. Poland had the highest GDP growth in the EU in 2009. As of February 2012, the Polish economy has not entered a recession in the wake of the global finance crisis.
The Polish banking sector is the largest in central and eastern Europe as well being as the largest and the most highly developed sector of the country’s financial markets. It is regulated by the Polish Financial Supervision Authority. During the transformation to a market-oriented economy, the government privatized some banks, recapitalized the rest and introduced legal reforms that made the sector competitive. This has attracted a significant number of strategic foreign investors. the banking sector in Poland has around 5 domestics banks, and almost 600 cooperative banks with 18 foreign branches of foreign-owned banks. In addition, foreign investors have controlling stakes in nearly 40 commercial banks, which make up 68% of the banking capital.
Poland has a large number of private farms in its agricultural sector, with the potential to become a leading producer of food in the EU. The structural reforms in health care, education, the pension system, and state administration have resulted in larger-than-expected fiscal pressure.
The economy had growth of 3.7% annually in 2003, a rise from 1.4% annually in 2002. In 2004, GDP growth equaled 5.4%, in 2005 3.3% and in 2006 6.2%. According to Eurostat data, Polish PPS GDP per capita stood at 61% of the EU average in 2009.
Reference:
http://en.wikipedia.org/wiki/Poland
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