While the Polish economy has grown at an average rate of 4 percent in recent years, it slowed in 2016 as construction investment reduced, leaving household consumption as the primary driver of growth. The currency has also fallen over 2016. Nevertheless, unemployment has fallen to 8 percent, the lowest level since 1989.
Extended government social programmes have seen Poland’s national debt increase, and this together with a number of anti-bribery measures is decreasing local government spending.
Both the residential and the commercial sectors are seeing steady growth in demand providing good opportunities for the construction sector.
Government spending on infrastructure lessened, but the trend is expected to reverse over 2017. The railway and industrial sectors are also experiencing increasing levels of investment.
The decline in the value of the currency will help boost the competitiveness of the Polish economy in 2017. A number of large industrial projects in the engineering, aerospace and automobile sectors started at the beginning of the year, including projects by Daimler, Lufthansa GE, Rolls-Royce, Safrane and Toyota. Significant office developments are planned for large cities such as Kraków, Łódź, Poznań, Warsaw and Wrocław.