LIMITS AND RISK OF DEVELOPING TRANSPORT INFRASTRUCTURE IN POLAND
DOI:
https://doi.org/10.35774/jee2017.01.110Keywords:
Investment, transport, infrastructure, bonds, finance, reform, regional, risks, budget.Abstract
Low investment and other mistakes made in the process of transport development has led to the situation where even the infrastructure of the most developed transport branches does not correspond to European standards. Underdevelopment of transport infrastructure in Poland has become one of the main barriers to growth and modernization of the country. Well-developed transport infrastructure is an important determinant of socio-economic development.
Over 25 years after the start of the economic transformation in Poland, the condition of transport infrastructure in this country remains unsatisfactory. However, since the accession to the European Union, the development of transport infrastructure in Poland has improved significantly. Funds from the EU have contributed significantly to this progress.
The current financial perspective may be the last chance for Poland to get EU funding for transport infrastructure development in such a large scale. Therefore, it is particularly important that the allocated funds are fully absorbed. For this to happen, project beneficiaries should be able to obtain funds for their own contributions. The increase in bond yields related to rating downgrade, weakening banks or shifting funds from investment to consumption may weaken Poland’s ability to take advantage of opportunities arising from EU funds.
JEL: R4, R40, R5.
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