OECD praises Poland's economic progress but cautions on high inflation
The Organization for Economic Cooperation and Development (OECD) ambassadors meeting in Warsaw yesterday gave a positive assessment of Poland's economic achievement over the last decade but cautioned about high inflation and the growing current account deficit. OECD secretary-general Donald Johnson praised Poland, Czech Republic, Slovakia
and Hungary, saying they should not be afraid of any crisis since they are loosely integrated with stable Western European economies. However his main concern is still a very high level of inflation. "Consumer Price Index around 11% is far too much. Poland must reduce inflation to single-digits, the way other OECD countries did," added the head of the
29-member organization. Johnson believes only then can the interest rates be lowered. (Puls Biznesu, page 10, Prawo i Gospodarka, page 1,3)
and Hungary, saying they should not be afraid of any crisis since they are loosely integrated with stable Western European economies. However his main concern is still a very high level of inflation. "Consumer Price Index around 11% is far too much. Poland must reduce inflation to single-digits, the way other OECD countries did," added the head of the
29-member organization. Johnson believes only then can the interest rates be lowered. (Puls Biznesu, page 10, Prawo i Gospodarka, page 1,3)
