The coronavirus pandemic and the global lockdown had an extraordinarily strong impact on the economies of all countries in the world.
However, according to the World Bank expert, the Polish economy is more resilient than others, and the fiscal situation in Poland is noticeably better than in other countries of the region.
The factors that help Polish economic situation are:
- support from the World Bank,
- quick interventions of the National Bank of Poland providing the necessary liquidity for the banking sector through the program of quantitative easing of monetary policy – the value of the purchases of bonds amounted to nearly 4% GDP,
- the amount of debt in relation to Poland’s GDP is one of the lowest in the European Union, thanks to which the government has a budgetary space to respond to the crisis.
Polish government introduced many changes for entrepreneurs, which are to support them in conducting business in difficult conditions caused by COVID-19 (e.g. exemption from paying social security contributions, changes in the labor law).
The coronavirus pandemic has slowed down the Polish economy, but it also became a catalyst for the development of the e-commerce industry.
Consumers wanting to avoid the risk of contracting the virus more frequently decide to purchase through the Internet. In response to the growing demand for online shopping, more and more stores are choosing to sell online.
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