Abstract
Purpose: To analyse the issue of public debt in Poland and examine its effect on other areas of socio-economic life as well as government policy.
Highlights
Approach: The question of public debt is placed in its historical context by looking at how it grew during the Communist system and influenced the transition period
A large proportion of this debt was written off in the early 1990s, Poland had already embarked on a course of economic reform before the collapse of Communism, which was continued in the early 1990s
The introduction of a compulsory pension system towards the end of the 1990s contributed to the subsequent steady growth in public debt
Summary
Approach: The question of public debt is placed in its historical context by looking at how it grew during the Communist system and influenced the transition period. Poland was able to avoid an economic recession due to a unique combination of internal and external factors, the most important of which was its ability to increase government spending and, in particular, to raise public investment, thereby at least partially offsetting the decline in private investment. The ability of the Polish government to maintain public debt within the existing external and internal limits over the long term is largely dependent on whether it can increase economic growth and improve the situation on the labour market.
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