Poland is one of the premier economies in among the various nations that comprise of the central and eastern parts of the European continent. It was in 966 that the first polish state came into being. Though Poland had regained its independence during the First World War, it was lost during the Second World War and the polish nation was subjugated by the formidable Nazis of Germany and also the Soviet Union . It was finally in 1989 that communism was overthrown in Poland and that year marked the beginning of polish democracy. Since then Poland has gradually strengthened its economic growth and it also became a member of the European Union in 2004. In fact, at present Poland is supposed to possess the strongest economy among the various east European countries and it is believed to possess an annual economic growth rate of about 6%. It is necessary to point out that prior to gaining independence, before the Second World War, the major industries in Poland included iron and steel, coal, chemical machineries and textiles majorly. However, during the communist regime, the economic growth of Poland suffered immensely due to the absence of proper centralized policies. As a result, while the other countries of Europe surged ahead of it in terms of economic growth, Poland suffered huge setbacks. It was in 1990, after usurping communist rule that Poland regained its strength and began to undertake several measures in order to strengthen its economy and the result is evident today. Apart form the traditional industries that existed previously, several newer forms have entered the market like petrochemicals, fertilizers, machine tools, shipbuilding and electrical goods and machinery.



One of the most significant reasons that can be attributed for the sudden growth of the polish economy is the economic liberalization policy which has been adopted by the country. Various small and large industrial firms have been assigned the task of investing in the formation of newer enterprises by means of these liberal laws in order to ensure a strengthening of the private business sector which on its part can play an important role in strengthening the economy as a whole. Moreover, a notable growth in foreign investment has further facilitated economic growth. However, there are certain factors which need to be kept under check and also regulated in order to ensure all forms of account deficits and inflation etc can be kept.