interview

We Must Make No Mistakes

Poland is evolving into an advanced economy. It is almost there: according to the World Bank classification, Poland is a high-income country. IT is still dependent on foreign investors and needs to pursue a prudent economic policy and avoid mistakes that could discourage investors

Katarzyna Zajdel-Kurowska Former Executive Director at The World Bank interviewed by Paweł Czuryło

Where are we in the business cycle now and what is the condition of the global economy?

The economy is definitely in a cooling phase. The fat years are over. Clearly, two developments have contributed: the pandemic and the war. But even if these events had not occurred, the economy would still have entered a slowdown.

Why?

Commodity and food prices were rising even before the pandemic, in part due to adverse climate change and global population growth. The pandemic and the war have amplified these trends and added negative factors. Whether a global recession can be avoided depends on