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The Warsaw Voice » Business » October 27, 2011
Business & Economy
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Business in brief
October 27, 2011   
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Belka Best in Region
At a recent meeting of the International Monetary Fund and World Bank in Washington, Marek Belka, head of Poland’s central bank (NBP), collected an award from Emerging Markets magazine, which named him Central Bank Governor of the Year for Emerging Europe 2011.

According to the magazine, Belka played a key role in coordinating economic policy and balancing the need to combat inflation with the need to overcome the crisis. He was also a leading advocate for comprehensive reform in the eurozone, while maintaining Poland’s commitment to adopt the single European currency, Emerging Markets said.

Poland Biggest Beneficiary of EU Funds
Poland accounts for the largest portion—22 percent—of all European Union funds paid out to member states so far by the European Commission as part of the pool of money allocated for the 2007-2013 period.

By August this year, the Commission paid out a total of 96.2 billion euros to member states, of which Poland pocketed nearly 21 billion euros. Further down the list are Spain and Germany, which have obtained 10.3 billion euros and 9.08 billion euros from the European Commission respectively.

Energy Challenges
The development of gas and nuclear energy, renewable energy sources and so-called smart grids are the main challenges faced by the Polish energy sector over the next few years, according to a report by business advisory firm Deloitte. As demand for energy continues to increase, and with environmental legislation expected to be a deciding factor in changes to the energy sectors in Poland and Europe, shale gas, which Poland intends to start drilling for, seems a logical direction for the energy sector to develop in. There is also significant potential in respect of nuclear energy and renewable energy sources, the report says.

Poland Five Notches Up
Poland has moved up five spots to number 30 on a global IT industry competitiveness index compiled jointly by the Business Software Alliance (BSA) and the Economist Intelligence Unit. Poland has improved its competitiveness in the field of information technology in relation to 2009. Slovenia was the only Central and Eastern European country to be ranked ahead of Poland.

CAP Reform Debated
Poland’s Agriculture Minister Marek Sawicki said Poland will organize a series of meetings at the European level focusing on proposed reforms of the European Union’s Common Agricultural Policy. The first debate will be held in the European Parliament in early November.
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