The Polish government emphasizes the role of economic sovereignty, which refers to the economic policies that correlate with the aspirations of societies and companies, said Prime Minister Mateusz Morawiecki on Thursday in Warsaw.
PM Morawiecki was speaking at a congress marking 100 years of Poland’s economy, held at the Warsaw Stock Exchange, which showcased the achievements of Polish companies during inter-war, communist and democratic years. Poland marks its 100th independence anniversary this year.
A letter from Polish President Andrzej Duda was read out during the inauguration of the event. The head of state said his priority was to inspire actions aimed at promoting sustainable economic growth.
“It is extremely important that future development initiatives in our country offer the Polish economy sustainable and innovative growth. This growth should be socially sensitive and territorially balanced,” the president noted.
Prime Minister Morawiecki in his inaugural address to the congress stressed the importance of economic sovereignty, but said it should not be understood as creating protectionist barriers.
“We understand this sovereignty (…) as a mechanism within the economic policy that is correlated with the aspirations of society, and in particular of this entrepreneurial society, that is entrepreneurs,” the prime minister said.
The sovereignty needs to be combined with full participation in the global economy, PM Morawiecki argued, going on to state that Economy 4.0, or high-tech networked businesses of the future, is an opportunity for Poland. To this end, Poland allocates huge funds to innovation, he added.
The government pays special attention to bottom-up growth, Morawiecki said as he referred to small and medium-sized companies.
Finance Minister Teresa Czerwińska said the major challenge for the Polish economy was to ensure sustainable economic growth, albeit at an expected lower growth rate. Secondly, the growth should take into account social and environmental factors, she added.
Another challenge is “changing the structure of the Polish economy” in order to compete less on labour costs and more on quality and technology, Czerwińska argued.
The minister also said the government was trying to simplify legislation in order to promote entrepreneurship.