The meeting was attended by the following speakers: Julia Patorska (Chairwoman of the Council of the Society of Polish Economists, Deloitte’s Economic Analysis Team), Stefan Kawalec (President of the Board of Capital Strategy, member of the Association of Polish Economists), Kamil Sobolewski (Chief Economist of the Employers of Poland) and Piotr Bodył-Szymala, PhD, (legal advisor to the President of the Board of Santander Bank Polska). The meeting was chaired by Łukasz Korycki, deputy editor-in-chief of “Puls Biznesu”.

Economic Espresso is a project that provides a platform for a lively, substantive discussion and exchange of experiences and views on the current condition of the Polish economy and the most important socio-economic events. 

During the fifth session of the “Economic Espresso” series of talks on the market economy, experts discussed about the situation of the investment market in Poland. They also referred to the war in Ukraine and its potential impact on our economy in the coming years.

- We had a dynamic rebound in demand in the economy, improving investor, consumer and business sentiment. Above all, we have seen increasing monetary stimulation of the economy,” added Kamil Sobolewski.

- The key issue is the level of investment made by Polish companies. It has been very low in the long term. It is difficult to look at quarterly data after the period of Covid pandemic. It’s necessary to  look at this in a wider perspective. This is the weakness of the Polish economy that was diagnosed many years ago.  Despite various attempts, announcements and efforts made by the government, the level of investment has not improved. In fact, there has been a regression in recent years,” admitted Stefan Kawalec.

- Demographics are against us. Another element is the lack of legal, regulatory, and tax-related stability. This is connected not only with the range of tributes and burdens due, here we can discuss whether we have low or high taxes. Above all, we have a complicated system, which makes it much more difficult for businesses to grow,” said Julia Patorska.

- Good law is part of the safety net in which investors navigate. And thus, it is crucial. The higher the quality of the law is, the greater the chance for good, high-quality investments,” noted Piotr Bodył-Szymala.

- Today we do not have ideal conditions also because there is no penalty for mismanagement. Those who commit mismanagement at the level of businesses and government, as a rule, do not face punishment for their deals. That penalty at this point has become inflation. It is imposed for the fact that we all allow ourselves to spend money created by the central bank,” said Kamil Sobolewski.

- A much greater autonomy for the government's legislative center seems to be the right demand. In addition, we need to raise the competence of those who try to make laws. This is something that we won't see the effects of quickly, but without which we won't do well,” concluded Piotr Bodył-Szymala.