chapter  4
20 Pages

Polish survey

ByMichal Zielinski

The picture of the Polish economy in 1991, as given by main economic indicators, is a disastrous one (see table 4.1). GDP went down by 7 per cent, investment fell by about 10 per cent (in the previous year it decreased by 10 per cent, too), and consumption was stagnant (in 1990 it dropped by 15 per cent). Unemployment nearly doubled during 1991 and the unemployment rate increased rapidly from 6 per cent of the labour force at the beginning of the year to over 10 per cent at the end of 1991. The only good economic news were the balanced foreign trade and a decrease in the inflation rate.