Poland unchanged in Economic Freedom ranking

Poland’s position has remained unchanged in the latest Economic Freedom Index compiled annually by the Heritage Foundation. In this year’s edition, Warsaw placed 45 scoring 68.5 points, 0.2 point more than a year ago. Its overall score was boosted by improved fiscal health and labor freedom scores outpacing a decline in government integrity. “Prioritization of social welfare spending has prompted investors to lower Poland’s economic growth projections for the next few years. Past structural reforms like trade liberalization, low corporate taxes, and a business-friendly regulatory environment facilitated the transition to a market-oriented economy. Remaining systemic challenges include deficiencies in road and rail infrastructure, a rigid labor code, a weak commercial court system, government red tape, and a burdensome tax system for entrepreneurs. Reforms are also needed to buttress the independence of the judiciary and reduce opportunities for corruption,” the report said. Overall, out of 180 countries, once again Hong Kong, Singapore New Zealand, Switzerland and Australia were the leaders. In Europe, Poland placed 21.