Eastern European economies are developing strongly but Poland still struggles to bring its economy i...
Eastern European economies are developing strongly but Poland still struggles to bring its economy in line with EU requirements. Peter Gray, fund manager on Gartmore's emerging markets desk, says the country has spent the last 10 years gearing for entry to the EU, going through a period of painful reform. Despite this the country still has a structural problem, with high interest rates aimed at reducing domestic consumer demand, but a currency that gets stronger with every rate rise, he says. Gray believes the way out of this vicious circle is to impose fiscal discipline but feels the gov...
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