economy

More than two months after the beginning of Russia’s barbarian invasion of Ukraine on 24 February, prospects for a resolution of the war seem increasingly unlikely. As the conflict has intensified, Western sanctions against Russia have continued to pile up, with no less than six waves of sanctions imposed by the European Union.

If there is anything certain in the modern economy, it’s change. While we enjoy using assorted opportunities to repeat and scare one another about the times of extraordinary variability and uncertainty we all face, the truth is somewhat different: both have become typical features of the economic landscape. It goes without saying that they are also the price we are paying for the exorbitant development and technological changes of recent decades, for the never-ending race we have decided to join in the name of progress and prosperity.

Hailed as a lynchpin of digital transition, AI is beginning to establish itself in the Polish economy.

Recorded at slightly below 10% over recent years, the growth rate of Polish exports topped 20% in 2021. Central Statistics Office data for the first two months of that year suggest that this positive trend has continued.

Russia’s invasion of Ukraine has contributed to stagflation trends in the economy. Powerful migration movements have affected demand and the overall labour market. Having found itself in the frontline zone, Poland will nonetheless not suffer any decline in attractiveness as an investment destination.

The ongoing multiple crises of the COVID pandemic, high inflation, climate change and Russia’s invasion of Ukraine pose formidable challenges to global growth and welfare. Policymakers will need to do their utmost to tackle them. But the ongoing crises also present an opportunity to re-build the world in a new, better and inclusive way.