Determinants of the Polish economic policy after 2022

Abstract

The article focuses on indicating the desired directions of economic policy in Poland against the background of its potential and current conditions. It is assumed that the current condition of the Polish economy was determined by the interaction of the processes of transformation, privatization, globalization and European integration. The last chronological determinants of this state are the crisis caused by the COVID-19 pandemic and Russia’s military aggression against Ukraine. These impacts created the threat of stagflation. The growing importance of China and the trade war between that country and the US, together with Russian aggression, are crushing the current international economic order. These processes are changing the situation and prospects of the Polish economy, whose managers should redefine its place in the new international economic order that is gradually emerging under the influence of all these circumstances. The final picture of the next economic reality is unknown. However, it is worth striving to include Polish enterprises in European and global supply chains thanks to the technological modernization of their activities. In the area of fiscal policy, instead of competing with ever lower tax rates, it is worth developing public infrastructure and institutions. With regard to monetary policy, due to the inevitable increase in the economic risk of foreign investments in Poland, it will be a good idea to adopt the euro and thus create a safe prospect for economic development.