Statistical Appendix

Charalambos Christofides; Paul Mylonas; Inci Ötker; Liam P. Ebrill; Gerd Schwartz; Ajai Chopra

Author: Mr. Charalambos Christofides, Mr. Paul Mylonas¹, Ms. Inci Ötker², Mr. Liam P. Ebrill, Mr. Gerd Schwartz, and Mr. Ajai Chopra

¹ 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund
| ² 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund

Language:: English

Keywords:: OP; bottom; exchange rate; enterprise; government; State budget; enterprise loss; Owend enterprise; enterprise liquidation; current account; Imports; Trade balance; Exports; Budget planning and preparation

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Abstract

Estimates.

Table A1.

Development of Selected Indices

(Annual percent change in real terms, unless otherwise indicated)

Sources: Polish authorities; and IMF staff estimates.

^¹Estimates.

^²includes profit premia; deflated by the CPI.

^³Up to 1990, based on invoices submitted by foreign trade organizations and custom declarations. Includes trade under all arrangements.

Table A1.

Development of Selected Indices

(Annual percent change in real terms, unless otherwise indicated)

		1989	1990	1991	1992	1993¹
Gross domestic product		0.2	–11.6	–7.6	1.5	4.0
Material production		0.0	–13.4	–7.5	0.4	4.5
	Industry	–2.1	–12.0	–17.1	2.6	5.7
	Construction	–0.3	–14.5	6.7	3.8	6.5
	Agriculture	1.0	–0.3	6.8	–12.3	–1.9
Services		1.4	–0.3	–12.6	–2.7	1.8
Consumption		6.1	–15.4	3.3	5.0	4.1
Gross capital formation		–10.7	–24.8	–14.2	–2.5	9.3
Population incomes		6.0	–14.7	5.9	3.5	…
Consumer price index (percent change, period average)		251.1	85.8	70.3	43.0	35.3
Net (after–tax) wages²		9.0	–24.4	–0.3	–2.7	–1.0
Employment (economywide, end of period)		–0.8	–6.2	–3.7	–2.3	1.0
Exports (customs basis)³		0.2	13.7	–2.4	–2.6	…
Imports (customs basis)		1.5	–17.9	37.7	13.9	…

Sources: Polish authorities; and IMF staff estimates.

^¹Estimates.

^²includes profit premia; deflated by the CPI.

^³Up to 1990, based on invoices submitted by foreign trade organizations and custom declarations. Includes trade under all arrangements.

Table A1.

Development of Selected Indices

(Annual percent change in real terms, unless otherwise indicated)

		1989	1990	1991	1992	1993¹
Gross domestic product		0.2	–11.6	–7.6	1.5	4.0
Material production		0.0	–13.4	–7.5	0.4	4.5
	Industry	–2.1	–12.0	–17.1	2.6	5.7
	Construction	–0.3	–14.5	6.7	3.8	6.5
	Agriculture	1.0	–0.3	6.8	–12.3	–1.9
Services		1.4	–0.3	–12.6	–2.7	1.8
Consumption		6.1	–15.4	3.3	5.0	4.1
Gross capital formation		–10.7	–24.8	–14.2	–2.5	9.3
Population incomes		6.0	–14.7	5.9	3.5	…
Consumer price index (percent change, period average)		251.1	85.8	70.3	43.0	35.3
Net (after–tax) wages²		9.0	–24.4	–0.3	–2.7	–1.0
Employment (economywide, end of period)		–0.8	–6.2	–3.7	–2.3	1.0
Exports (customs basis)³		0.2	13.7	–2.4	–2.6	…
Imports (customs basis)		1.5	–17.9	37.7	13.9	…

Sources: Polish authorities; and IMF staff estimates.

^¹Estimates.

^²includes profit premia; deflated by the CPI.

^³Up to 1990, based on invoices submitted by foreign trade organizations and custom declarations. Includes trade under all arrangements.

Table A2.

Population, Labor Force, and Employment

(In thousands of persons; end of year)

Source: Polish authorities.

^¹Provisional.

^²The working age for men/women is defined to be between the ages of 18 and 64/59.

^³Employment statistics exclude workers doing military service, working in defense and public–safety–related institutions, living abroad, or serving a jail sentence. These workers, however, are classified as part of the active labor force. Taking into account the different statistical treatment accorded to these workers, the calculated unemployment rate was close to zero through 1989.

^⁴From 1990 in the public sector.

^⁵From 1990 registered unemployment.

Table A2.

Population, Labor Force, and Employment

(In thousands of persons; end of year)

			1988	1989	1990	1991	1992¹
Population			37,885	38,038	38,183	38,309	38,418
	Of which:
		Working age²	21,822	21,889	21,962	22,055	22,181
		Non working age	16,063	16,149	16,221	16,254	16,237
Total employment³			17,699	17,558	16,474	15,861	15,616
	Of which:
		In the socialized sector⁴	12,313	11,709	8,243	7,052	6,606
Memorandum items:
	Registered job seekers⁵ (as of end–year)		5	10	1,126	2,156	2,509
	Registered job vacancies (as of end–year)		430	254	54	29	23

Source: Polish authorities.

^¹Provisional.

^²The working age for men/women is defined to be between the ages of 18 and 64/59.

^⁴From 1990 in the public sector.

^⁵From 1990 registered unemployment.

Table A2.

Population, Labor Force, and Employment

(In thousands of persons; end of year)

			1988	1989	1990	1991	1992¹
Population			37,885	38,038	38,183	38,309	38,418
	Of which:
		Working age²	21,822	21,889	21,962	22,055	22,181
		Non working age	16,063	16,149	16,221	16,254	16,237
Total employment³			17,699	17,558	16,474	15,861	15,616
	Of which:
		In the socialized sector⁴	12,313	11,709	8,243	7,052	6,606
Memorandum items:
	Registered job seekers⁵ (as of end–year)		5	10	1,126	2,156	2,509
	Registered job vacancies (as of end–year)		430	254	54	29	23

Source: Polish authorities.

^¹Provisional.

^²The working age for men/women is defined to be between the ages of 18 and 64/59.

^⁴From 1990 in the public sector.

^⁵From 1990 registered unemployment.

Table A3.

Employment by Sector

(Yearly overages)

Source: Polish authorities

^¹Data for 1990 are not directly comparable to figures shown for 1989 because of wider coverage.

^²Provisional estimates

^³Material sphere of production only.

Table A3.

Employment by Sector

(Yearly overages)

				1988	1989¹	1990¹	1991	1992²
				(In thousands of persons)
Total employment				17,023	16,854	16,511	15,601	15,096
	Socialized sector			12,215	11,779	8,942	7,633	6,800
		Industry		4,320	4,177	3,250	2,745	2,413
		Construction		1,071	964	792	546	357
		Agriculture		996	963	594	458	329
		Forestry		154	140	125	107	91
		Transport and communications		998	933	820	715	629
		Trade		1,388	1,342	322	212	172
		Services		3,288	3,260	3,039	2,850	3,138
	Private agriculture			3,620	3,560	3,831	3,806	3,708
	Other private sector			1,188	1,515	3,738	4,162	4,588
				(Percent change)
Total employment				–0.7	–1.0	–2.0	–5.5	–3.2
	Socialized sector			–1.0	–3.6	–24.1	–14.6	–10.9
		Of which:
			Industry	–1.8	–3.3	–22.2	–15.5	–12.1
			Construction	–2.5	–10.0	–17.8	–31.1	–34.6
			Agriculture	–1.4	–3.4	–38.3	–22.9	–28.2
			Services	1.3	–0.8	–6.8	–6.2	10.1
	Private agriculture			–3.1	–1.7	7.6	–0.7	–2.6
	Other private sector			11.4	27.6	146.7	11.3	10.2
Memorandum item:
	Total man hours worked in the socialized sector (excluding agriculture)³			–1.9	–9.0	–7.4	–4.6	2.2

Source: Polish authorities

^¹Data for 1990 are not directly comparable to figures shown for 1989 because of wider coverage.

^²Provisional estimates

^³Material sphere of production only.

Table A3.

Employment by Sector

(Yearly overages)

				1988	1989¹	1990¹	1991	1992²
				(In thousands of persons)
Total employment				17,023	16,854	16,511	15,601	15,096
	Socialized sector			12,215	11,779	8,942	7,633	6,800
		Industry		4,320	4,177	3,250	2,745	2,413
		Construction		1,071	964	792	546	357
		Agriculture		996	963	594	458	329
		Forestry		154	140	125	107	91
		Transport and communications		998	933	820	715	629
		Trade		1,388	1,342	322	212	172
		Services		3,288	3,260	3,039	2,850	3,138
	Private agriculture			3,620	3,560	3,831	3,806	3,708
	Other private sector			1,188	1,515	3,738	4,162	4,588
				(Percent change)
Total employment				–0.7	–1.0	–2.0	–5.5	–3.2
	Socialized sector			–1.0	–3.6	–24.1	–14.6	–10.9
		Of which:
			Industry	–1.8	–3.3	–22.2	–15.5	–12.1
			Construction	–2.5	–10.0	–17.8	–31.1	–34.6
			Agriculture	–1.4	–3.4	–38.3	–22.9	–28.2
			Services	1.3	–0.8	–6.8	–6.2	10.1
	Private agriculture			–3.1	–1.7	7.6	–0.7	–2.6
	Other private sector			11.4	27.6	146.7	11.3	10.2
Memorandum item:
	Total man hours worked in the socialized sector (excluding agriculture)³			–1.9	–9.0	–7.4	–4.6	2.2

Source: Polish authorities

^¹Data for 1990 are not directly comparable to figures shown for 1989 because of wider coverage.

^²Provisional estimates

^³Material sphere of production only.

Table A4.

Summary of Government Financial Operations

Sources: Polish authorities; and IMF staff estimates.

^¹For 1987–90, the state budget includes the budget of the central government and the budgets of local regional authorities. Beginning in 1991, the state budget includes the budget of the central government and the budgets of the regional authorities; the budgets of local authorities are separated from the state budget.

^²On a commitment basis, except for external Interest payments, which are on a cash basis.

^³In 1986, responsibility for the service of government foreign debt and for the payment of subsidies related to foreign debt service, which are recorded on a cash basis, was transferred from the state budget to an extrabudgetary fund. On December 31, 1990, the extrabudgetary fund responsible for external debt service was closed and responsibility reverted to the state budget. In 1989, responsibility for export-related subsidies was transferred to another extrabudgetary fund.

^⁴On a cash basis.

^⁵Includes transfers among extrabudgetary funds.

^⁶Includes extrabudgetary funds under the control of the central government and those under the control of local authorities.

^⁷Not considered part of the general government before 1990 since no data were available.

^⁸Not considered part of the general government before 1992 since no data were available

^⁹Reflects unallocated financing.

^¹⁰Consolidated for payments and transfers between the state budget, local authorities, extrabudgetary funds, extrabudgetary units of the state budget, and extrabudgetary units of the local authorities, and for payments among extrabudgetary funds and extrabudgetary units.

^¹¹Expenditure arrears of the state budget to the bank and nonbank public that were not converted into treasury bills.

^¹²For 1991, the cash deficit includes the purchase of capitalized housing interest through issuing treasury bills to the National Housing Bank, payments to clear interest arrears on these bills, and payments to the National Housing Bank of the capital amount of guaranteed loans that were extended by the National Housing Bank to housing cooperatives and are in default, For 1992, the cash deficit includes interest payments on promissory notes connected with the extrabudgetary fund for foreign debt-service payments, payments to clear interest arrears on the purchase of capitalized housing interest, and payments to the National Housing Bank of the capital amount of guaranteed loans that were extended by the National Housing Bank to housing cooperatives and are now in default.

^¹³Reflects acquisition of nonmonetary assets by extrabudgetary funds and, until 1991, unallocated financing

Table A4.

Summary of Government Financial Operations

			1988	1989	1990	1991	1992
			(In trillions of zlotys)
A. State budget¹
	Revenues		10,544	29,742	197,103	212,060	308,505
	Expenditures² ³		10,960	35,655	193,185	269,366	386,251
	Balance²		–416	–5,913	3,918	–57,306	–77,746
B. Local authorities’
	Revenue		…	…	…	50,053	64,402
		Of which: Transfers within general government	…	…	…	13,207	19,615
	Expenditures⁴		…	…	…	44,788	64,879
		Of which: Transfers within general government	…	…	…	1,935	16,852
	Balance⁴		…	…	…	5,265	–477
C. Extrabudgetary funds⁵ ⁶
	Revenue		4,913	16,871	108,463	145,993	244,647
		Of which: Transfers within general government	–940	4,841	35,160	43,717	90,093
	Expenditures’⁴		4,509	18,092	95,745	150,408	238,358
		Of which: Transfers within general government	–	–	–	–	–
	Balance⁴		–404	–1,221	12,718	–4,415	6,289
D. Extra budgetary units of the state budget⁷
	Revenue		…	…	13,670	17,169	21,804
		Of which’ Transfers within general government	…	…	7,221	5,060	4,086
	Expenditure₄		…	…	11,75	15,293	18,048
		Of which: Transfers within general government	…	…	–	1,365	2,936
	Balance		…	…	1,913	1,876	3,756
E. Extrabudgetary units of the local authorities⁸
	Revenues		…	…	…	…	32,596
		Of which: Transfers within general government	…	…	…	…	12,925
	Expend Expenditures⁴		…	…	…	…	32,383
		Of which’ Transfers within general government	…	…	…	…	4,610
	Balance⁴		…	…	…	…	213
F. Unidentified expenditure⁹			…	…	…	–657	8,320
G. Consolidated general government¹⁰
	Revenue		14,220	40,023	254,116	341,909	503,003
	Expenditure		14,233	47,157	235,567	395,832	579,289
	Balance		–13	–7,134	18,549	–53,923	–76,286
	Change in outstanding arrears¹¹		–	2,643	–2,643	12,857	–6,375
	Balance (cash basis)¹²		–13	–4,491	15,906	–41,066	–82,661
	Financing		13	4,491	–15,906	41,066	82,661
	Domestic bank financing (net)		82	4,972	–16,299	41,228	75,554
	Other domestic financing		–	367	131	774	5,800
	Foreign financing (net)		–70	–273	–4,008	–936	–2,829
	Sale of foreign exchange holdings		–	–	–	–	4,135
	Other¹³		–	–575	4,270	–2,467	–4,131
Memorandum item:
	State budget balance (cash, national definition)		780	–3,579	–2,439	–30,973	–69,115
			(in percent of GDP)
A. State budget¹
	Revenues		35.6	30.8	33.3	25.7	27.0
	Expenditures² ³		37.0	36.9	32.7	32.7	33.8
	Balance²		–1.4	–6.1	0.7	–7.0	–6.8
B. Local authorities¹
	Revenues		…	…	…	6.1	5.6
	Expenditures⁴		…	…	…	5.4	5.7
	Balance’		…	…	…	0.6	–
C. Extrabudgetary funds⁵ ⁶
	Revenues		16.6	17.5	18.3	17.7	21.4
	Expenditures⁴		15.2	18.7	16.2	18.2	20.9
	Balance⁴		1.4	–1.3	2.2	–0.5	0.6
D. Extrabudgetary units of the state budget⁷
	Revenues		…	…	2.3	2.1	1.9
	Expenditures⁴		…	…	2.0	1.9	1.6
	Balance		…	…	0.3	0.2	0.3
E. Extrabudgetary units of the local authorities
	Revenues		…	…	…	…	2.9
	Expenditures’		…	…	…	…	2.8
	Balance’		…	…	…	…
F. Unidentified expenditure⁹			…	…	…	–0.1	0.7
G. Consolidated general governments
	Revenues		48.0	41.5	43.0	41.5	44.0
	Expenditures		48.0	48.8	39.8	48.0	50.7
	Balance		–	–7.4	3.1	–6.5	–6.7
	Change in outstanding arrears¹¹		–	2.7	–0.4	1.6	–0.6
	Balance (cash basis)¹²		–	–4.7	2.7	–5.0	–7.2
	Financing		–	4.7	–2.7	5.0	7.2
	Domestic bank financing (net)		0.3	5.1	–2.8	5.0	6.6
	Other domestic financing		–	0.4	–	0.1	0.5
	Foreign financing (net)		–0.2	–0.3	–0.7	–0.1	–0.2
	Sale of foreign exchange holdings		–	–	–	–	0.4
	Other’¹³		–	–0.6	0.7	–	–
Memorandum item:
	State budget balance (cash, national definition)		2.6	–3.7	–0.4	–3.8	–6.0

Sources: Polish authorities; and IMF staff estimates.

^²On a commitment basis, except for external Interest payments, which are on a cash basis.

^⁴On a cash basis.

^⁵Includes transfers among extrabudgetary funds.

^⁶Includes extrabudgetary funds under the control of the central government and those under the control of local authorities.

^⁷Not considered part of the general government before 1990 since no data were available.

^⁸Not considered part of the general government before 1992 since no data were available

^⁹Reflects unallocated financing.

^¹¹Expenditure arrears of the state budget to the bank and nonbank public that were not converted into treasury bills.

^¹³Reflects acquisition of nonmonetary assets by extrabudgetary funds and, until 1991, unallocated financing

Table A4.

Summary of Government Financial Operations

			1988	1989	1990	1991	1992
			(In trillions of zlotys)
A. State budget¹
	Revenues		10,544	29,742	197,103	212,060	308,505
	Expenditures² ³		10,960	35,655	193,185	269,366	386,251
	Balance²		–416	–5,913	3,918	–57,306	–77,746
B. Local authorities’
	Revenue		…	…	…	50,053	64,402
		Of which: Transfers within general government	…	…	…	13,207	19,615
	Expenditures⁴		…	…	…	44,788	64,879
		Of which: Transfers within general government	…	…	…	1,935	16,852
	Balance⁴		…	…	…	5,265	–477
C. Extrabudgetary funds⁵ ⁶
	Revenue		4,913	16,871	108,463	145,993	244,647
		Of which: Transfers within general government	–940	4,841	35,160	43,717	90,093
	Expenditures’⁴		4,509	18,092	95,745	150,408	238,358
		Of which: Transfers within general government	–	–	–	–	–
	Balance⁴		–404	–1,221	12,718	–4,415	6,289
D. Extra budgetary units of the state budget⁷
	Revenue		…	…	13,670	17,169	21,804
		Of which’ Transfers within general government	…	…	7,221	5,060	4,086
	Expenditure₄		…	…	11,75	15,293	18,048
		Of which: Transfers within general government	…	…	–	1,365	2,936
	Balance		…	…	1,913	1,876	3,756
E. Extrabudgetary units of the local authorities⁸
	Revenues		…	…	…	…	32,596
		Of which: Transfers within general government	…	…	…	…	12,925
	Expend Expenditures⁴		…	…	…	…	32,383
		Of which’ Transfers within general government	…	…	…	…	4,610
	Balance⁴		…	…	…	…	213
F. Unidentified expenditure⁹			…	…	…	–657	8,320
G. Consolidated general government¹⁰
	Revenue		14,220	40,023	254,116	341,909	503,003
	Expenditure		14,233	47,157	235,567	395,832	579,289
	Balance		–13	–7,134	18,549	–53,923	–76,286
	Change in outstanding arrears¹¹		–	2,643	–2,643	12,857	–6,375
	Balance (cash basis)¹²		–13	–4,491	15,906	–41,066	–82,661
	Financing		13	4,491	–15,906	41,066	82,661
	Domestic bank financing (net)		82	4,972	–16,299	41,228	75,554
	Other domestic financing		–	367	131	774	5,800
	Foreign financing (net)		–70	–273	–4,008	–936	–2,829
	Sale of foreign exchange holdings		–	–	–	–	4,135
	Other¹³		–	–575	4,270	–2,467	–4,131
Memorandum item:
	State budget balance (cash, national definition)		780	–3,579	–2,439	–30,973	–69,115
			(in percent of GDP)
A. State budget¹
	Revenues		35.6	30.8	33.3	25.7	27.0
	Expenditures² ³		37.0	36.9	32.7	32.7	33.8
	Balance²		–1.4	–6.1	0.7	–7.0	–6.8
B. Local authorities¹
	Revenues		…	…	…	6.1	5.6
	Expenditures⁴		…	…	…	5.4	5.7
	Balance’		…	…	…	0.6	–
C. Extrabudgetary funds⁵ ⁶
	Revenues		16.6	17.5	18.3	17.7	21.4
	Expenditures⁴		15.2	18.7	16.2	18.2	20.9
	Balance⁴		1.4	–1.3	2.2	–0.5	0.6
D. Extrabudgetary units of the state budget⁷
	Revenues		…	…	2.3	2.1	1.9
	Expenditures⁴		…	…	2.0	1.9	1.6
	Balance		…	…	0.3	0.2	0.3
E. Extrabudgetary units of the local authorities
	Revenues		…	…	…	…	2.9
	Expenditures’		…	…	…	…	2.8
	Balance’		…	…	…	…
F. Unidentified expenditure⁹			…	…	…	–0.1	0.7
G. Consolidated general governments
	Revenues		48.0	41.5	43.0	41.5	44.0
	Expenditures		48.0	48.8	39.8	48.0	50.7
	Balance		–	–7.4	3.1	–6.5	–6.7
	Change in outstanding arrears¹¹		–	2.7	–0.4	1.6	–0.6
	Balance (cash basis)¹²		–	–4.7	2.7	–5.0	–7.2
	Financing		–	4.7	–2.7	5.0	7.2
	Domestic bank financing (net)		0.3	5.1	–2.8	5.0	6.6
	Other domestic financing		–	0.4	–	0.1	0.5
	Foreign financing (net)		–0.2	–0.3	–0.7	–0.1	–0.2
	Sale of foreign exchange holdings		–	–	–	–	0.4
	Other’¹³		–	–0.6	0.7	–	–
Memorandum item:
	State budget balance (cash, national definition)		2.6	–3.7	–0.4	–3.8	–6.0

Sources: Polish authorities; and IMF staff estimates.

^²On a commitment basis, except for external Interest payments, which are on a cash basis.

^⁴On a cash basis.

^⁵Includes transfers among extrabudgetary funds.

^⁶Includes extrabudgetary funds under the control of the central government and those under the control of local authorities.

^⁷Not considered part of the general government before 1990 since no data were available.

^⁸Not considered part of the general government before 1992 since no data were available

^⁹Reflects unallocated financing.

^¹¹Expenditure arrears of the state budget to the bank and nonbank public that were not converted into treasury bills.

^¹³Reflects acquisition of nonmonetary assets by extrabudgetary funds and, until 1991, unallocated financing

Table A5.

State Budget Subsidies¹

(In percent of GDP)

Source: Polish authorities.

^¹Comprises cash grants; recorded on a cash basis.

^²Mainly payments to cover enterprise losses.

^³ln 1988, the state budget undertook to reimburse the banking system for the net cost of the increase in the negative spread between interest rates on deposits and on bank credits. This liability was to be met during 1989–92 but is shown here on a commitment basis.

^⁴Subsidies to units that carry out economic activities but that are not formally classified as enterprises.

^⁵Includes, among others, subsidies for interest payments and principal payments on loans to the nonsocialized agricultural sector.

^⁶Includes, among others, subsidies for state, communal, and cooperative housing, and subsidies for interest payments and principal repayments on housing loans contracted by private individuals.

^⁷ln 1989, medicine subsidies amounting to less than 0.1 percent of GDP were paid by the Social Insurance Fund (FUS).

Table A5.

State Budget Subsidies¹

(In percent of GDP)

				1988	1989	1990	1991	1992
Total subsidies to enterprises, the banking system, and other economic units				6.0	4.5	3.4	1.7	0.8
	Subsidies to enterprises			4.1	3.9	2.6	1.3	0.5
		On material inputs and transportation of goods		1.1	3.3	1.6	0.6	0.1
			Coal	1.0	3.3	1.6	0.6	0.1
			Transportation of goods	–	–	–	–	–
			Others	0.1	–	–	–	–
		On foreign trade		2.2	0.2	–	–	–
		To agricultural units in the socialized sector		0.5	0.2	0.1	–	–
		Other subsidies to enterprises²		0.3	0.1	0.9	0.7	0.5
	Subsidies to the banking system³			1.2	–	–	0.1	–
	Subsidies to other economic units⁴			0.7	0.7	0.8	0.3	–
		For road maintenance		0.3	0.3	0.3	–	–
		Others		0.4	0.4	0.5	0.3	0.3
Total subsidies to the population				10.0	8.4	3.9	3.0	2.8
	Subsidies on foodstuffs			4.9	3.7	0.2	–	–
		Meat products		1.4	1.2	–	–	–
		Dairy products		2.1	1.6	0.2	–	–
		Cereals		0.9	0.5	–	–	–
		Other subsidies⁵		0.4	0.5	–	–	–
	Subsidies on other consumer goods			0.4	0.2	0.1	0.1	–
		Coal and coke subsidies		0.4	0.2	–	–	–
		Other subsidies		–	–	0.1	0.1	–
	Subsidies for nonsocialized agriculture			1.0	1.0	0.4	0.2	0.1
		Input subsidies		0.9	0.9	0.2	–	–
		Other subsidies		0.1	0.1	0.1	0.2	0.1
	Subsidies on passenger transportation			0.8	0.9	0.4	0.4	0.3
	Subsidies on housing⁶			2.5	2.5	2.8	2.2	2.3
	Subsidies on medicine⁷			0.5	0.1	–	–	–
	Subsidies on schoolbooks			–	–	–	–	–

Source: Polish authorities.

^¹Comprises cash grants; recorded on a cash basis.

^²Mainly payments to cover enterprise losses.

^⁴Subsidies to units that carry out economic activities but that are not formally classified as enterprises.

^⁵Includes, among others, subsidies for interest payments and principal payments on loans to the nonsocialized agricultural sector.

^⁶Includes, among others, subsidies for state, communal, and cooperative housing, and subsidies for interest payments and principal repayments on housing loans contracted by private individuals.

^⁷ln 1989, medicine subsidies amounting to less than 0.1 percent of GDP were paid by the Social Insurance Fund (FUS).

Table A5.

State Budget Subsidies¹

(In percent of GDP)

				1988	1989	1990	1991	1992
Total subsidies to enterprises, the banking system, and other economic units				6.0	4.5	3.4	1.7	0.8
	Subsidies to enterprises			4.1	3.9	2.6	1.3	0.5
		On material inputs and transportation of goods		1.1	3.3	1.6	0.6	0.1
			Coal	1.0	3.3	1.6	0.6	0.1
			Transportation of goods	–	–	–	–	–
			Others	0.1	–	–	–	–
		On foreign trade		2.2	0.2	–	–	–
		To agricultural units in the socialized sector		0.5	0.2	0.1	–	–
		Other subsidies to enterprises²		0.3	0.1	0.9	0.7	0.5
	Subsidies to the banking system³			1.2	–	–	0.1	–
	Subsidies to other economic units⁴			0.7	0.7	0.8	0.3	–
		For road maintenance		0.3	0.3	0.3	–	–
		Others		0.4	0.4	0.5	0.3	0.3
Total subsidies to the population				10.0	8.4	3.9	3.0	2.8
	Subsidies on foodstuffs			4.9	3.7	0.2	–	–
		Meat products		1.4	1.2	–	–	–
		Dairy products		2.1	1.6	0.2	–	–
		Cereals		0.9	0.5	–	–	–
		Other subsidies⁵		0.4	0.5	–	–	–
	Subsidies on other consumer goods			0.4	0.2	0.1	0.1	–
		Coal and coke subsidies		0.4	0.2	–	–	–
		Other subsidies		–	–	0.1	0.1	–
	Subsidies for nonsocialized agriculture			1.0	1.0	0.4	0.2	0.1
		Input subsidies		0.9	0.9	0.2	–	–
		Other subsidies		0.1	0.1	0.1	0.2	0.1
	Subsidies on passenger transportation			0.8	0.9	0.4	0.4	0.3
	Subsidies on housing⁶			2.5	2.5	2.8	2.2	2.3
	Subsidies on medicine⁷			0.5	0.1	–	–	–
	Subsidies on schoolbooks			–	–	–	–	–

Source: Polish authorities.

^¹Comprises cash grants; recorded on a cash basis.

^²Mainly payments to cover enterprise losses.

^⁴Subsidies to units that carry out economic activities but that are not formally classified as enterprises.

^⁵Includes, among others, subsidies for interest payments and principal payments on loans to the nonsocialized agricultural sector.

^⁶Includes, among others, subsidies for state, communal, and cooperative housing, and subsidies for interest payments and principal repayments on housing loans contracted by private individuals.

^⁷ln 1989, medicine subsidies amounting to less than 0.1 percent of GDP were paid by the Social Insurance Fund (FUS).

Table A6.

Finances of the Main Social Insurance Funds¹

Sources: Polish authorities: and IMF staff estimates.

^¹On a cash hasis.

^²Before 1990, data refer to the State Fund for Occupational Activation (PAZ) only.

Table A6.

Finances of the Main Social Insurance Funds¹

			1988	1989	1990	1991	1992
			(In trillions of zlotys)
Social Insurance Fund (FIE)
	Revenues		2.69	9.69	57.83	111.70	185.21
		Of which: Transfers from the state budget	0.20	1.27	8.82	22.06	49.51
	Expenditures		2.48	9.75	51.76	115.06	182.08
		Of which: Pensions	1.86	6.89	40.72	88.32	147.44
Social insurance Fund for Farmers (KRUS)
	Revenues		0.25	1.11	8.31	14.97	24.50
		Of which: Transfers from the state budget	0.20	1.05	7.50	13.62	22.47
	Expenditures		0.26	0.99	7.68	15.52	22.94
		Of which: Pensions	0.25	0.98	7.10	12.20	21.29
Labor Fund (FP)²
	Revenues		0.04	0.10	4.58	11.93	23.13
		Of which: Transfers from the state budget	0.04	0.10	3.34	7.50	16.26
	Expenditures		0.04	0.06	3.43	12.40	22.83
		Of which: Unemployment benefits	–	–	1.06	10.18	19.68
Totals for the main social insurance funds
	Revenues		2.98	10.89	70.73	138.60	232.4
Of which: Transfers from the state budget			0.44	2.41	19.66	43.19	88.24
	Expenditures		2.78	10.80	62.87	142.97	227.85
		Of which: Pensions	2.11	7.87	48.02	110.52	168.73
			(In percent of GDP)
	Social Insurance Fund (FUS) Revenues		9.1	10.0	9.8	13.6	16.2
		Of which: Transfers from the state budget	0.7	1.3	1.5	2.7	4.3
	Expenditures		8.4	10.1	8.7	14.0	15.9
		Of which: Pensions	6.3	7.1	6.9	10.7	12.9
Social Insurance Fund for Farmers (KRUS)
	Revenues		0.9	1.1	1.4	1.8	2.1
		Of which: Transfers from the state budget	0.7	1.1	1.3	1.7	2.0
	Expenditures		0.9	1.0	1.3	1.9	2.0
		Of which: Pensions	0.8	1.0	1.2	1.5	1.9
Labor Fund (FP)²
	Revenues		0.1	0.1	0.8	1.4	2.0
		Of which: Transfers from the state budget	0.1	0.1	0.6	0.9	1.4
	Expenditures		0.1	0.1	0.6	1.5	2.0
Of which: Unemployment benefits			–	–	0.2	1.2	1.7
Totals for the main social insurance funds
	Revenues		10.0	11.3	12.0	16.8	20.4
		Of which: Transfers from the state budget	1.5	2.5	3.3	5.2	7.7
	Expenditures		9.4	11.2	10.6	17.3	19.9
		Of which: Pensions	7.1	8.2	8.1	12.2	14.8
			(In percent of total revenues of respective funds)
Memorandum item:
	State budget transfers to
		Social Insurance Fund	7.4	13.1	15.2	19.7	26.7
		Social Insurance Fund for Farmers	77.8	94.7	90.3	91.0	91.7
		Labor Fund²	100.0	100.0	72.9	62.9	70.3

Sources: Polish authorities: and IMF staff estimates.

^¹On a cash hasis.

^²Before 1990, data refer to the State Fund for Occupational Activation (PAZ) only.

Table A6.

Finances of the Main Social Insurance Funds¹

			1988	1989	1990	1991	1992
			(In trillions of zlotys)
Social Insurance Fund (FIE)
	Revenues		2.69	9.69	57.83	111.70	185.21
		Of which: Transfers from the state budget	0.20	1.27	8.82	22.06	49.51
	Expenditures		2.48	9.75	51.76	115.06	182.08
		Of which: Pensions	1.86	6.89	40.72	88.32	147.44
Social insurance Fund for Farmers (KRUS)
	Revenues		0.25	1.11	8.31	14.97	24.50
		Of which: Transfers from the state budget	0.20	1.05	7.50	13.62	22.47
	Expenditures		0.26	0.99	7.68	15.52	22.94
		Of which: Pensions	0.25	0.98	7.10	12.20	21.29
Labor Fund (FP)²
	Revenues		0.04	0.10	4.58	11.93	23.13
		Of which: Transfers from the state budget	0.04	0.10	3.34	7.50	16.26
	Expenditures		0.04	0.06	3.43	12.40	22.83
		Of which: Unemployment benefits	–	–	1.06	10.18	19.68
Totals for the main social insurance funds
	Revenues		2.98	10.89	70.73	138.60	232.4
Of which: Transfers from the state budget			0.44	2.41	19.66	43.19	88.24
	Expenditures		2.78	10.80	62.87	142.97	227.85
		Of which: Pensions	2.11	7.87	48.02	110.52	168.73
			(In percent of GDP)
	Social Insurance Fund (FUS) Revenues		9.1	10.0	9.8	13.6	16.2
		Of which: Transfers from the state budget	0.7	1.3	1.5	2.7	4.3
	Expenditures		8.4	10.1	8.7	14.0	15.9
		Of which: Pensions	6.3	7.1	6.9	10.7	12.9
Social Insurance Fund for Farmers (KRUS)
	Revenues		0.9	1.1	1.4	1.8	2.1
		Of which: Transfers from the state budget	0.7	1.1	1.3	1.7	2.0
	Expenditures		0.9	1.0	1.3	1.9	2.0
		Of which: Pensions	0.8	1.0	1.2	1.5	1.9
Labor Fund (FP)²
	Revenues		0.1	0.1	0.8	1.4	2.0
		Of which: Transfers from the state budget	0.1	0.1	0.6	0.9	1.4
	Expenditures		0.1	0.1	0.6	1.5	2.0
Of which: Unemployment benefits			–	–	0.2	1.2	1.7
Totals for the main social insurance funds
	Revenues		10.0	11.3	12.0	16.8	20.4
		Of which: Transfers from the state budget	1.5	2.5	3.3	5.2	7.7
	Expenditures		9.4	11.2	10.6	17.3	19.9
		Of which: Pensions	7.1	8.2	8.1	12.2	14.8
			(In percent of total revenues of respective funds)
Memorandum item:
	State budget transfers to
		Social Insurance Fund	7.4	13.1	15.2	19.7	26.7
		Social Insurance Fund for Farmers	77.8	94.7	90.3	91.0	91.7
		Labor Fund²	100.0	100.0	72.9	62.9	70.3

Sources: Polish authorities: and IMF staff estimates.

^¹On a cash hasis.

^²Before 1990, data refer to the State Fund for Occupational Activation (PAZ) only.

Table A7.

Main Revenue Sources of the Local Authorities

(Percent of all revenues accruing to the local authorities)

Sources: Bird and Wallich (1993); Polish Local Government Information Service (various issues); and the Polish authorities.

^¹About 1,600 state-owned enterprises were taken over from the central authorities in the context of privatization.

^²Untied transfers were limited to 0.9 percent of all central government revenues by the December 1993 Law on Local Government Finances.

Table A7.

Main Revenue Sources of the Local Authorities

(Percent of all revenues accruing to the local authorities)

		1991	1993
I. Own revenue sources		100	100
	Mandatory payments (agricultural property tax, forest tax, real estate tax, vehicle tax, inheritance and gift tax, dog license fees, market fees, tourism taxes, stamp duties on civil law transactions, interest charges on late payments of fees, duties, and taxes)
2. Income from own assets (operations of departmental enterprises and extrabudgetary funds of the local authorities)¹		100	100
3. Optional levies (such as user charges)		100	100
4. Revenue sharing with the central authorities
	Turnover taxes (VAT since mid–1993)	—	—
	Excise taxes	—	—
	Enterprise income taxes	5	5
	Predecessor personal income tax (abolished in 1992)	30	…
	New personal income tax (introduced in 1992)	…	15
	Wage tax (abolished in 1992)	30	…
5. Block grants and transfers from central authorities
	For untied purposes	As required²
	For centrally mandated tasks	As required

Sources: Bird and Wallich (1993); Polish Local Government Information Service (various issues); and the Polish authorities.

^¹About 1,600 state-owned enterprises were taken over from the central authorities in the context of privatization.

^²Untied transfers were limited to 0.9 percent of all central government revenues by the December 1993 Law on Local Government Finances.

Table A7.

Main Revenue Sources of the Local Authorities

(Percent of all revenues accruing to the local authorities)

		1991	1993
I. Own revenue sources		100	100
	Mandatory payments (agricultural property tax, forest tax, real estate tax, vehicle tax, inheritance and gift tax, dog license fees, market fees, tourism taxes, stamp duties on civil law transactions, interest charges on late payments of fees, duties, and taxes)
2. Income from own assets (operations of departmental enterprises and extrabudgetary funds of the local authorities)¹		100	100
3. Optional levies (such as user charges)		100	100
4. Revenue sharing with the central authorities
	Turnover taxes (VAT since mid–1993)	—	—
	Excise taxes	—	—
	Enterprise income taxes	5	5
	Predecessor personal income tax (abolished in 1992)	30	…
	New personal income tax (introduced in 1992)	…	15
	Wage tax (abolished in 1992)	30	…
5. Block grants and transfers from central authorities
	For untied purposes	As required²
	For centrally mandated tasks	As required

Sources: Bird and Wallich (1993); Polish Local Government Information Service (various issues); and the Polish authorities.

^¹About 1,600 state-owned enterprises were taken over from the central authorities in the context of privatization.

^²Untied transfers were limited to 0.9 percent of all central government revenues by the December 1993 Law on Local Government Finances.

Table A8.

Monetary Survey¹

(In trillions of zlotys unless otherwise indicated; stocks at end of year)

Source: National Sank of Poland.

^¹The monetary accounting system was changed at the beginning of December 1991, hence data for previous years are not directly comparable and are not presented.

^²Figures in the Version 1 column are comparable with the 1991 figures, while Version 2 column figures are comparable with the 1993 figures. The difference between Version 1 and Version 2 for 1992 is that interest due but not paid is included as credit to the nongovernment sector in Version 2 (and in 1993), with an offsetting entry in other items net.

Table A8.

Monetary Survey¹

(In trillions of zlotys unless otherwise indicated; stocks at end of year)

				1992²
			1991	Version 1	Version 2	1993
Net international reserves			71.3	128.0	128.0	186.9
	In millions of U.S. dollars		6,505	8,120	8,120	8,755
Net domestic assets			189.7	283.1	283.1	372.4
	Credit to nongovernment		193.6	243.5	251.2	332.0
		Households	7.2	12.0	12.0	22.6
		Economic units	186.4	231.5	239.2	309.4
	Net credit to general government		88.3	190.0	187.7	300.3
		Of which: Without domestic debt indexed to the dollar	28.6	110.9	108.6	202.5
	Other assets net		–92.2	–150.5	–155.8	–259.9
Broad money			261.0	411.1	411.1	559.2
	Currency in circulation		56.2	78.0	78.0	99.8
	Zloty deposits		140.4	231.2	231.2	298.5
		Households	68.6	121.7	121.7	162.7
		Economic units	71.8	109.5	109.5	135.9
	Foreign currency deposits		64.5	101.9	101.9	160.9
		Households	61.2	98.3	98.3	154.3
		Economic units	3.2	3.6	3.6	6.6
Memorandum items:
	Foreign currency deposits (in millions of U.S. dollars)		5,885	6,464	6,464	7,539
	Foreign currency deposits/broad money (in percent)		24.7	24.8	24.8	28.8
	Exchange rate (zlotys per US$ I)		10,957	15,767	15,767	21,344

Source: National Sank of Poland.

^¹The monetary accounting system was changed at the beginning of December 1991, hence data for previous years are not directly comparable and are not presented.

Table A8.

Monetary Survey¹

(In trillions of zlotys unless otherwise indicated; stocks at end of year)

				1992²
			1991	Version 1	Version 2	1993
Net international reserves			71.3	128.0	128.0	186.9
	In millions of U.S. dollars		6,505	8,120	8,120	8,755
Net domestic assets			189.7	283.1	283.1	372.4
	Credit to nongovernment		193.6	243.5	251.2	332.0
		Households	7.2	12.0	12.0	22.6
		Economic units	186.4	231.5	239.2	309.4
	Net credit to general government		88.3	190.0	187.7	300.3
		Of which: Without domestic debt indexed to the dollar	28.6	110.9	108.6	202.5
	Other assets net		–92.2	–150.5	–155.8	–259.9
Broad money			261.0	411.1	411.1	559.2
	Currency in circulation		56.2	78.0	78.0	99.8
	Zloty deposits		140.4	231.2	231.2	298.5
		Households	68.6	121.7	121.7	162.7
		Economic units	71.8	109.5	109.5	135.9
	Foreign currency deposits		64.5	101.9	101.9	160.9
		Households	61.2	98.3	98.3	154.3
		Economic units	3.2	3.6	3.6	6.6
Memorandum items:
	Foreign currency deposits (in millions of U.S. dollars)		5,885	6,464	6,464	7,539
	Foreign currency deposits/broad money (in percent)		24.7	24.8	24.8	28.8
	Exchange rate (zlotys per US$ I)		10,957	15,767	15,767	21,344

Source: National Sank of Poland.

^¹The monetary accounting system was changed at the beginning of December 1991, hence data for previous years are not directly comparable and are not presented.

Table A9.

Competitiveness and External Sector Performance

Sources: Polish authorities: IMF staff estimates: and IMF, International Financial Statistics and Direction of Trade Statistics.

^¹IMF staff estimates for external account statistics. For the CPI-based competitiveness indicator, the 1993 figure is as of November 1993.

^²Convertible currency transactions (excludes trade in nonconvertible currencies).

^³A positive change indicates a real appreciation.

^⁴Percentage share of Polish exports in Germany’s imports from a sample of Eastern European countries, including Albania. Bulgaria, former Czechoslovakia, Hungary, Poland, Romania, and former Yugoslavia.

Table A9.

Competitiveness and External Sector Performance

		1989	1990	1991	1992	1993¹
Export value growth (in percent)²		4.51	43.41	17.46	9.69	–2.94
Import value growth (in percent)²		16.30	17.91	46.94	6.11	17.75
Trade balance²
	In millions of U.S. dollars	240	2,214	51	512	–2,293
	In percent of GDP	0.4	3.6	0.1	0.6	–2.7
Current account²
	In millions of U.S. dollars	–1,843	668	–2,222	–270	–2,287
	In percent of GDP	–2.7	1.1	–2.8	–0.3	–2.7
	Change in gross official reserves (in millions of U.S. dollars)	415.0	2,417.0	–866.0	473.0	–7.0
Gross reserves (in months of imports of goods and nonfactor services)		3.3	5.5	3.3	3.5	3.0
Competitiveness:		(Percent change from previous year)³
	REER^CPI	…	–17.4	54.7	0.1	7.0
	REER^PPI¹	…	4.4	26.9	1.7	–7.5
	REER^ULC	…	–21.6	54.9	–5.5	–15.6
	Unit labor costs (ULC)	…	426.1	85.1	22.0	24.0
	Labor productivity (manufacturing)	…	–14.9	–7.5	12.1	10.5
	Market share (in percent)⁴	21.1	26.5	27.7	26.8	30.3

Sources: Polish authorities: IMF staff estimates: and IMF, International Financial Statistics and Direction of Trade Statistics.

^¹IMF staff estimates for external account statistics. For the CPI-based competitiveness indicator, the 1993 figure is as of November 1993.

^²Convertible currency transactions (excludes trade in nonconvertible currencies).

^³A positive change indicates a real appreciation.

Table A9.

Competitiveness and External Sector Performance

		1989	1990	1991	1992	1993¹
Export value growth (in percent)²		4.51	43.41	17.46	9.69	–2.94
Import value growth (in percent)²		16.30	17.91	46.94	6.11	17.75
Trade balance²
	In millions of U.S. dollars	240	2,214	51	512	–2,293
	In percent of GDP	0.4	3.6	0.1	0.6	–2.7
Current account²
	In millions of U.S. dollars	–1,843	668	–2,222	–270	–2,287
	In percent of GDP	–2.7	1.1	–2.8	–0.3	–2.7
	Change in gross official reserves (in millions of U.S. dollars)	415.0	2,417.0	–866.0	473.0	–7.0
Gross reserves (in months of imports of goods and nonfactor services)		3.3	5.5	3.3	3.5	3.0
Competitiveness:		(Percent change from previous year)³
	REER^CPI	…	–17.4	54.7	0.1	7.0
	REER^PPI¹	…	4.4	26.9	1.7	–7.5
	REER^ULC	…	–21.6	54.9	–5.5	–15.6
	Unit labor costs (ULC)	…	426.1	85.1	22.0	24.0
	Labor productivity (manufacturing)	…	–14.9	–7.5	12.1	10.5
	Market share (in percent)⁴	21.1	26.5	27.7	26.8	30.3

Sources: Polish authorities: IMF staff estimates: and IMF, International Financial Statistics and Direction of Trade Statistics.

^¹IMF staff estimates for external account statistics. For the CPI-based competitiveness indicator, the 1993 figure is as of November 1993.

^²Convertible currency transactions (excludes trade in nonconvertible currencies).

^³A positive change indicates a real appreciation.

Table A10.

Selected Economic Indicators

Sources Polish authorities, and IMF staff estimates.

Table A10.

Selected Economic Indicators

	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993
Real GDP (percent change)	–10.0	–4.8	5.6	5.6	5.1	4.2	2.0	4.1	0.2	–11.6	–7.6	1.5	4.0
Consumer prices (percent change)	21.2	100.8	22.1	15.0	15.1	17.8	25.2	60.2	251.1	585.8	70.3	43.0	35.3
Producer prices (percent change)	9.2	122.3	15.3	14.5	16.2	17.8	26.6	59.8	212.8	622.4	48.1	28.5	32.2
Central government balance (in percent of GDP)	–11.4	–2.9	–2.1	–2.2	–1.2	–1.1	–3.5	–1.4	–6.1	0.7	–7.0	–6.8	–3.4
Trade balance (in billions of U.S. dollars)	–2.2	–0.1	0.3	0.7	0.4	0.6	0.8	1.1	0.2	2.2	0.1	0.5	–2.3
Current account (in billions of U.S. dollars)	–4.0	–1.9	–1.6	–1.1	–1.2	–1.0	–0.6	–0.3	–1.8	0.7	–2.2	–0.3	–2.3

Sources Polish authorities, and IMF staff estimates.

Table A10.

Selected Economic Indicators

	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993
Real GDP (percent change)	–10.0	–4.8	5.6	5.6	5.1	4.2	2.0	4.1	0.2	–11.6	–7.6	1.5	4.0
Consumer prices (percent change)	21.2	100.8	22.1	15.0	15.1	17.8	25.2	60.2	251.1	585.8	70.3	43.0	35.3
Producer prices (percent change)	9.2	122.3	15.3	14.5	16.2	17.8	26.6	59.8	212.8	622.4	48.1	28.5	32.2
Central government balance (in percent of GDP)	–11.4	–2.9	–2.1	–2.2	–1.2	–1.1	–3.5	–1.4	–6.1	0.7	–7.0	–6.8	–3.4
Trade balance (in billions of U.S. dollars)	–2.2	–0.1	0.3	0.7	0.4	0.6	0.8	1.1	0.2	2.2	0.1	0.5	–2.3
Current account (in billions of U.S. dollars)	–4.0	–1.9	–1.6	–1.1	–1.2	–1.0	–0.6	–0.3	–1.8	0.7	–2.2	–0.3	–2.3

Sources Polish authorities, and IMF staff estimates.

Table A11.

Privatization Routes

(Number of firms)

Source: Polish Ministry of Privatization, Dynamika Prywatyzacji (various issues).Notes. State Enterprise Act, Article 19, refers so liquidation of nonviable (nonpayers of tax) firms. Privatization Act, Article 37, refers to liquidation of viable firms.

Table A11.

Privatization Routes

(Number of firms)

			Q3–Q4 1991	Q1–Q2 1991	Q3–Q4 1991	Total 1991	Q1–Q2 1992	Q3–Q4 1992	Total 1992	Q1–Q2 1993	Q3–Q4 1993	Total 1993
			(State enterprises assigned to privatization path)
Total stock			72	343	1,028	1,028	1,475	1,751	1,751	1,949	2,185	2,185
	By sale of equity (Art. 6)		0	0	65	65	178	183	183	185	186	186
	By liquidation		72	343	963	963	1,297	1,568	1,568	1,764	1,999	1,999
		State Enterprise Act, Art. 19	28	173	536	536	723	853	853	967	1,082	1,082
		Privatization Act, Art. 37	44	170	427	427	574	715	715	797	917	917
Memorandum item:
	By commercialization (Art. 5)		58	162	244	244	286	301	301	316	336	336
	Art. 5 and Art. 6		58	162	309	309	464	484	484	501	522	522
	Total number of remaining stateowned enterprises		8,441	8,098	7,413	7,413	6,966	6,690	6,690	6,492	6,256	6,256
		In percent of total	100.0	95.9	87.8	87.8	82.5	79.3	79.3	76.9	74.1	74.1
Total flow			72	271	695	956	447	276	723	198	236	434
	By sale of equity (Art. 6)		0	0	65	65	113	5	118	2	1	3
	By liquidation		72	271	620	891	334	271	605	196	235	431
		State Enterprise Act, Art. 19	28	145	363	508	187	130	317	114	115	229
		Privatization Act, Art. 37	44	126	257	383	147	141	288	82	120	202
Memorandum item:			58	104	82	186	42	15	57	15	20	35
	By commercialization (Art. 5)		58	104	147	251	155	20	175	17	21	38
			(State enterprises whose privatization was completed)
Total stock			0	100	263	263	527	700	700	892	1,065	1,065
	By sale of equity (Art. 6)		0	0	65	65	178	183	183	185	186	186
	By liquidation		0	100	198	198	349	517	517	707	879	879
		state Enterprise Act, Art. 19	0	21	44	44	78	118	118	126	172	172
		Privatization Act, Art. 37	0	79	154	154	271	399	399	581	707	707
Memorandum item:
	Total number of remaining stateowned Owend enterprises		8,441	8,341	8,178	8,178	7,914	7,741	7,741	7,549	7,376	7,376
		In percent of total	100.0	98.8	96.9	96.9	93.8	91.7	91.7	89.4	87.4	87.4
Total flow			0	100	163	263	264	173	437	192	173	365
	By sale of equity (Art. 6)		0	0	65	65	113	5	118	2	1	3
	By liquidation		0	100	98	198	151	168	319	190	172	362
		State Enterprise Act. Art, 19	0	21	23	44	34	40	74	8	46	54
		Privatization Act, Art. 37	0	79	75	154	117	128	245	182	126	308

Table A11.

Privatization Routes

(Number of firms)

			Q3–Q4 1991	Q1–Q2 1991	Q3–Q4 1991	Total 1991	Q1–Q2 1992	Q3–Q4 1992	Total 1992	Q1–Q2 1993	Q3–Q4 1993	Total 1993
			(State enterprises assigned to privatization path)
Total stock			72	343	1,028	1,028	1,475	1,751	1,751	1,949	2,185	2,185
	By sale of equity (Art. 6)		0	0	65	65	178	183	183	185	186	186
	By liquidation		72	343	963	963	1,297	1,568	1,568	1,764	1,999	1,999
		State Enterprise Act, Art. 19	28	173	536	536	723	853	853	967	1,082	1,082
		Privatization Act, Art. 37	44	170	427	427	574	715	715	797	917	917
Memorandum item:
	By commercialization (Art. 5)		58	162	244	244	286	301	301	316	336	336
	Art. 5 and Art. 6		58	162	309	309	464	484	484	501	522	522
	Total number of remaining stateowned enterprises		8,441	8,098	7,413	7,413	6,966	6,690	6,690	6,492	6,256	6,256
		In percent of total	100.0	95.9	87.8	87.8	82.5	79.3	79.3	76.9	74.1	74.1
Total flow			72	271	695	956	447	276	723	198	236	434
	By sale of equity (Art. 6)		0	0	65	65	113	5	118	2	1	3
	By liquidation		72	271	620	891	334	271	605	196	235	431
		State Enterprise Act, Art. 19	28	145	363	508	187	130	317	114	115	229
		Privatization Act, Art. 37	44	126	257	383	147	141	288	82	120	202
Memorandum item:			58	104	82	186	42	15	57	15	20	35
	By commercialization (Art. 5)		58	104	147	251	155	20	175	17	21	38
			(State enterprises whose privatization was completed)
Total stock			0	100	263	263	527	700	700	892	1,065	1,065
	By sale of equity (Art. 6)		0	0	65	65	178	183	183	185	186	186
	By liquidation		0	100	198	198	349	517	517	707	879	879
		state Enterprise Act, Art. 19	0	21	44	44	78	118	118	126	172	172
		Privatization Act, Art. 37	0	79	154	154	271	399	399	581	707	707
Memorandum item:
	Total number of remaining stateowned Owend enterprises		8,441	8,341	8,178	8,178	7,914	7,741	7,741	7,549	7,376	7,376
		In percent of total	100.0	98.8	96.9	96.9	93.8	91.7	91.7	89.4	87.4	87.4
Total flow			0	100	163	263	264	173	437	192	173	365
	By sale of equity (Art. 6)		0	0	65	65	113	5	118	2	1	3
	By liquidation		0	100	98	198	151	168	319	190	172	362
		State Enterprise Act. Art, 19	0	21	23	44	34	40	74	8	46	54
		Privatization Act, Art. 37	0	79	75	154	117	128	245	182	126	308

Table A12.

Basic Data by Ownership Sector

(Figures on top indicate public sector; figures in parentheses indicate private sector as a percent of total in each category)

Source: Polish Central Statistical Office, Biuletyn Statystyczny (Supplement, January 1994).

^¹End-of-period.

^²Legal entities according to the REGON register (which excludes natural persons carrying out economic activity and private civil companies).

^³Excluding private agriculture.

^⁴Gross financial result divided by cost of total income acquisition.

Table A12.

Basic Data by Ownership Sector

(Figures on top indicate public sector; figures in parentheses indicate private sector as a percent of total in each category)

		1992	Q1 1993	Q2 1993	Q3 1993	Q4 1993
Number of businesses¹ ²		53,554 (66)	53,608 (67)	53,479 (69)	53,322 (70)	51,768 (72)
Employment (in thousands)¹ ³		6,397 (29)	6,306 (30)	6,131 (31)	6,017 (32)	…
	of which: Industry	2,309 (29)	2,250 (31)	2,187 (33)	2,138 (34)	2,078 (36)
	Of which: Construction	298 (61)	271 (64)	245 (66)	214 (70)	196 (71)
	Of which’ Trade	150 (81)	146 (82)	138 (83)	128 (83)	124 (83)
Average monthly gross wages;(in thousands of zlotys)		2,962 (96)	3,804 (90)	3,848 (93)	3,912 (95)	…
	Of which’ Industry	3,151 (90)	4,011 (86)	4,128 (87)	4,221 (89)	4,518 (88)
	Of which: Construction	2,910 (105)	3,375 (101)	3,556 (101)	3,627 (102)	3,783 (102)
	Of which: Trade	3,292 (94)	4,036 (94)	4,453 (93)	4,421 (95)	4,641 (94)
Sold production of industry (in trillions of zlotys)		681 (31)	195 (32)	406 (33)	613 (37)	869 (37)
Sold production of construction (in trillions of zlotys)		30 (79)	5 (82)	12 (83)	18 (85)	25 (86)
Profit rates⁴		(In percent)
	Public sector	3.0	4.1	4.3	4.6	…
	Private sector	—	1.4	2.0	1.8	…

Source: Polish Central Statistical Office, Biuletyn Statystyczny (Supplement, January 1994).

^¹End-of-period.

^²Legal entities according to the REGON register (which excludes natural persons carrying out economic activity and private civil companies).

^³Excluding private agriculture.

^⁴Gross financial result divided by cost of total income acquisition.

Table A12.

Basic Data by Ownership Sector

(Figures on top indicate public sector; figures in parentheses indicate private sector as a percent of total in each category)

		1992	Q1 1993	Q2 1993	Q3 1993	Q4 1993
Number of businesses¹ ²		53,554 (66)	53,608 (67)	53,479 (69)	53,322 (70)	51,768 (72)
Employment (in thousands)¹ ³		6,397 (29)	6,306 (30)	6,131 (31)	6,017 (32)	…
	of which: Industry	2,309 (29)	2,250 (31)	2,187 (33)	2,138 (34)	2,078 (36)
	Of which: Construction	298 (61)	271 (64)	245 (66)	214 (70)	196 (71)
	Of which’ Trade	150 (81)	146 (82)	138 (83)	128 (83)	124 (83)
Average monthly gross wages;(in thousands of zlotys)		2,962 (96)	3,804 (90)	3,848 (93)	3,912 (95)	…
	Of which’ Industry	3,151 (90)	4,011 (86)	4,128 (87)	4,221 (89)	4,518 (88)
	Of which: Construction	2,910 (105)	3,375 (101)	3,556 (101)	3,627 (102)	3,783 (102)
	Of which: Trade	3,292 (94)	4,036 (94)	4,453 (93)	4,421 (95)	4,641 (94)
Sold production of industry (in trillions of zlotys)		681 (31)	195 (32)	406 (33)	613 (37)	869 (37)
Sold production of construction (in trillions of zlotys)		30 (79)	5 (82)	12 (83)	18 (85)	25 (86)
Profit rates⁴		(In percent)
	Public sector	3.0	4.1	4.3	4.6	…
	Private sector	—	1.4	2.0	1.8	…

Source: Polish Central Statistical Office, Biuletyn Statystyczny (Supplement, January 1994).

^¹End-of-period.

^²Legal entities according to the REGON register (which excludes natural persons carrying out economic activity and private civil companies).

^³Excluding private agriculture.

^⁴Gross financial result divided by cost of total income acquisition.

Table A13.

Recommended Property Conversions of State–Owned Enterprises as a Function of Size and Financial Status

Source: Polish Ministry of Privatization.Explanatory Notes:Management by committee on the basis of Article 65 of the Law on State-Owned Enterprises:Bank settlement procedures on the basis of Article 5 of the Law on the Financial Restructuring of Enterprises and Banks;Exchange of debt for equity on the basis of Article 43 of the Law on the Financial Restructuring of Enterprises and Banks;Paid-in contribution to the company on the basis of Article 37, paragraph I, item 2, of the Law on the Privatization of State-Owned Enterprises;Conversion into a company unit of the state Treasury on the basis of Article 5 of the Law on the Privatization of State-Owned Enterprises and then a “trade sale”: or capital privatization for active investors:Liquidation on the basis of Article 19 of the Law on State-Owned Enterprises;Bankruptcy on the basis of bankruptcy law (Executive Order from the President of the Republic of Poland dated October 24, 1934);Sale of the enterprise on the basis of Article 37, paragraph I, item I, of the Law on the Privatization of State-Owned Enterprises;Conversion into a company unit of the state Treasury on the basis of Article 6 of the Law on the Privatization of State-Owned Enterprises and then participation in the National Investment Fund program:Leasing the enterprise on the basis of Article 37, paragraph I, item 3, of the Law on the Privatization of State-Owned Enterprises:Conversion into a budgetary unit on the basis of Article 16 of the Budget Act; andMunicipal ownership of a state-owned enterprise on the basis of Article 5 of the law on territorial self-government and the civil servants in autonomous administrations.

Table A13.

Recommended Property Conversions of State–Owned Enterprises as a Function of Size and Financial Status

	Financial Status of the State-Owned Enterprise
Size of Enterprise	Poor (Persistent debt, negative profitability)	Average (Reasonable debt, profitability near zero)	Good (Accounts receivable exceed accounts payable, profitability exceeds 5 percent)
Large (700–30.000 employees: property value of more than ZI 300 billion)	Management by committee Bank settlement procedures Exchange of debt for equity Government guarantees/grants Paid-in contribution to the company Conversion into a company unit of the state Treasury and “trade sale” Liquidation Bankruptcy	Conversion into a company unit of the state Treasury and “trade sale” Conversion into a company unit of the state Treasury and National Investment Fund Management by committee Bank settlement procedures Exchange of debt for equity	Conversion into a company unit of the state Treasury and the sale of shares on the stock exchange plus “trade sale” Conversion into a company unit of the state Treasury (without privatization) No conversion (status quo)
Average (300–700 employees, property value of up to ZI 400 billion)	Management by committee Bank settlement procedures Exchange of debt for equity Sale of the enterprise Liquidation Bankruptcy	Conversion into a company unit of the state Treasury and the National Investment Fund Conversion into a company unit of the state Treasury and “trade sale” Conversion into a company unit of the state Treasury and management contract Management by committee Sale of the enterprise	Conversion into a company unit of the state Treasury and “trade sale” Conversion into a company unit of the state Treasury and the National Investment Fund Leasing the enterprise Paid-in contribution to the company Sale of the enterprise No conversion (status quo) Conversion into a company unit of the state Treasury (without privatization)
Small (20-300 employees:	Management by committee Sale of the enterprise Paid-in contribution to the company Liquidation Bankruptcy Municipal ownership of the state-owned enterprise Conversion into a budgetary unit	Sale of the enterprise Management by committee Municipal ownership of the state-owned enterprise Conversion into a budgetary unit	Leasing the enterprise Sale of the enterprise Paid-in contribution to the company Municipal ownership of the state-owned enterprise Conversion into a budgetary unit

Table A13.

Recommended Property Conversions of State–Owned Enterprises as a Function of Size and Financial Status

	Financial Status of the State-Owned Enterprise
Size of Enterprise	Poor (Persistent debt, negative profitability)	Average (Reasonable debt, profitability near zero)	Good (Accounts receivable exceed accounts payable, profitability exceeds 5 percent)
Large (700–30.000 employees: property value of more than ZI 300 billion)	Management by committee Bank settlement procedures Exchange of debt for equity Government guarantees/grants Paid-in contribution to the company Conversion into a company unit of the state Treasury and “trade sale” Liquidation Bankruptcy	Conversion into a company unit of the state Treasury and “trade sale” Conversion into a company unit of the state Treasury and National Investment Fund Management by committee Bank settlement procedures Exchange of debt for equity	Conversion into a company unit of the state Treasury and the sale of shares on the stock exchange plus “trade sale” Conversion into a company unit of the state Treasury (without privatization) No conversion (status quo)
Average (300–700 employees, property value of up to ZI 400 billion)	Management by committee Bank settlement procedures Exchange of debt for equity Sale of the enterprise Liquidation Bankruptcy	Conversion into a company unit of the state Treasury and the National Investment Fund Conversion into a company unit of the state Treasury and “trade sale” Conversion into a company unit of the state Treasury and management contract Management by committee Sale of the enterprise	Conversion into a company unit of the state Treasury and “trade sale” Conversion into a company unit of the state Treasury and the National Investment Fund Leasing the enterprise Paid-in contribution to the company Sale of the enterprise No conversion (status quo) Conversion into a company unit of the state Treasury (without privatization)
Small (20-300 employees:	Management by committee Sale of the enterprise Paid-in contribution to the company Liquidation Bankruptcy Municipal ownership of the state-owned enterprise Conversion into a budgetary unit	Sale of the enterprise Management by committee Municipal ownership of the state-owned enterprise Conversion into a budgetary unit	Leasing the enterprise Sale of the enterprise Paid-in contribution to the company Municipal ownership of the state-owned enterprise Conversion into a budgetary unit

Table A14.

Balance of Payments¹

(In millions of U.S. dollars)

Sources: Polish Ministry of Finance; National Bank of Poland; and IMF staff estimates.

^¹Convertible currency trade on a payments basis from commercial banks.

Table A14.

Balance of Payments¹

(In millions of U.S. dollars)

				1989	1990	1991	1992	Est. 1993
Trade balance				240	2,214	51	512	–2,293
	Exports			7,575	10,863	12,760	13,997	13,585
	Imports			7,335	8,649	12,709	13,485	15,878
		Of which: Oil and gas imports		—	—	2,553	2,261	1,655
Nonfactor services (net)				–228	–150	237	344	369
	Receipts			767	1,327	1,577	1,612	1,846
	Payments			995	1,477	1,341	1,268	1,477
Interest (net)				–3,087	–3,329	–2,862	–1,740	–1,392
	Receipts			382	581	541	527	400
	Payments due			3,469	3,910	3,403	2,267	1,792
		Of which: Paid		–	474	865	1,097	827
Transfers (net)				1,232	1,933	353	528	929
	Private			1,144	1,676	308	230	821
	Official (including debt converted)			88	257	45	298	108
Investment income				—	—	–	65	139
Transfer of profits				—	—	—	—	39
Current account balance				–1,843	668	–2,222	–270	–2,287
Capital account				–1,531	–2,350	–7,954	373	1,524
Medium-and long-term capital (net)				–1,442	–2,526	–6,059	–292	–471
	Disbursements			226	428	786	562	922
	Amortization due			1,668	2,954	6,845	854	1,393
		Of which: Paid		—	369	347	443	903
Credit extended				—	42	13	—1	11
Direct investment				36	10	117	284	580
Short-term capital				–125	–236	–1,254	598	1,095
Error and omissions				—	360	–713	38	92
Valuation adjustment				–	–	–58	–254	217
Overall balance				–3,374	–1,682	–10,176	103	–764
Net reserves, official and banks (–, increase)				–356	–4,442	1,317	–1,614	–634
	Net reserves, official (—, increase)			–200	–2,153	1,201	–485	–173
		Gross official reserves (—, increase)		–415	–2,417	866	–473	7
		Liabilities (–, increase)		215	264	335	–12	–180
			Of which: IMF credit, net	—	500	322	—	–138
	Change in other NIR of banking system			–156	–2,289	116	–1,128	–461
	Gross (—, Increase)			—	–1,989	250	–1,414	–370
	Liabilities			—	–300	–134	286	–91
Debt relief				332	9,054	4,362	202	—
	Principal and (arrears)			—	—

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