This Selected Issues paper and Statistical Appendix analyzes fiscal costs associated with Poland’s accession to the North Atlantic Treaty Organization and European Union (EU). The paper highlights that Poland’s accession to the EU could result in fiscal costs in certain areas, especially in upgrading the infrastructure in transportation and utilities, and improving the environment. The legislative reforms and the establishment of the regulatory and administrative structures are also likely to entail costs, though these costs are more difficult to quantify. This paper also discusses fiscal management and restructuring in Poland.
This Selected Issues paper on Poland analyzes tax reform in the country. It highlights that in common with many countries, Poland’s personal income tax is based on a definition of global personal income, though some income sources (such as dividends and interest income) are taxed under separate schedules. In addition, agriculture, forestry, and inheritances are taxed under separate laws. The paper presents a medium-term perspective for capital flows to Poland. It highlights that Poland has developed a reputation for sound macroeconomic policies and openness both to trade and financial flows.
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
This Selected Issues paper and Statistical Appendix examines external competitiveness and the exchange rate for the Slovak Republic. The paper describes two simple types of competitiveness indicators: (i) real effective exchange rate measures, which examine underlying fundamentals thought to influence external performance; and (ii) indicators of actual export performance. The results suggest that the unfavorable outcomes in the merchandise trade balance and the current account from 1996 to 1998 reflected, at least in part, competitiveness problems. The paper also presents an assessment of banking conditions and the supervision system in the Slovak Republic.
The transition from a command to a market economy requires profound reforms of the tax system. Such a transition will put downward pressures on the level of taxation at a time when public expenditure remains high. This paper outlines the main characteristics of the tax systems in centrally-planned economies. It describes recent changes in those tax systems. Finally, it discusses the major difficulties that will be faced, and the errors that must be avoided, during the transition.
This Selected Issues paper analyzes the use of fiscal rules in Poland and also suggests improvements. The study reviews the income tax reforms, developments in the polish tax system, and discusses the need and scope for public expenditure reform, employment, and the role of reforms of labor market institutions in reducing the unemployment rate. The paper highlights the trend in the saving-investment balance, the major determinants of private saving, and presents the results of a simple econometric analysis based on a panel dataset of selected transition economies.
Poland continued its convergence to average EU income levels, growing well above most of its peers. Yet, significant regional disparities and long-term structural challenges remain. The new government, which took office in November 2015, has introduced a number of new policies, some of which have dented investor sentiment and could weaken growth going forward. The near-term outlook is for continued expansion with low oil prices weighing on inflation. External risks to the outlook remain elevated and prospects of controversial policy initiatives have heightened domestic risks. Sound institutions, growth-friendly policies, and structural reforms are critical to achieve sustainable and inclusive growth.
This compilation of summaries of Working Papers released during January-June 1995 is being issued as a part of the Working Paper series. It is designed to provide the reader with an overview of the research work performed by the staff during the period. Authors of Working Papers are normally staff members of the Fund or consultants, although on occasion outside authors may collaborate with a staff member in writing a paper. The views expressed in the Working Papers or their summaries are, however, those of the authors and should not necessarily be interpreted as representing the views of the Fund. Copies of individual Working Papers and information on subscriptions to the annual series of Working Papers may be obtained from IMF Publication Services, International Monetary Fund, 700 19th Street, Washington, D.C. 20431. Telephone: (202) 623-7430 Telefax: (202) 623-7201.