In October 2017, the IMF revised its forecasts for Poland’s economic growth in 2017 and 2018 upwards to 3.8% and 3.3%, respectively, compared with its April expectations of 3.4% and 3.2%. In the short term, the IMF expects the momentum to continue, driven mainly by robust private consumption, and aided by wage growth, a minimum wage hike and the Family 500+ child support programme. However, certain factors could impede Poland’s growth in the medium term, particularly its shrinking workforce, which is the result of emigration, an ageing population and low participation in the labour force. Other factors likely to have a negative effect on future growth rates are: slowing growth of TFP (total factor productivity); the low level of private investments; and the potential reduction of EU funds (essential for infrastructure projects so far) after the current 2014-2020 programme. An increase in labour force participation and other labour market policies are seen as essential to secure high growth rates for Poland in future. More spending on R&D and infrastructure could also help, by boosting productivity and private investment. The latter could also be facilitated by reducing burdens on start-ups and deregulating professional services.

01 EXECUTIVE SUMMARY 

02 SECTOR FORECAST

03 SECTOR IN FOCUS

04 COMPETITIVE LANDSCAPE

05 COMPANIES IN FOCUS 

06 REGULATORY ENVIRONMENT 

07 PHARMACEUTICALS 

08 COSMETICS

09 RETAIL CHANNELS