In an interview, Bowie Boris notes that in economics, the period of the 1990s and early years of the twenty-first century was called the period of the Great Temperance. This is due to low inflation in the world, and there has been rapid growth in economies and trade due to globalization. – Now I think we have entered a period of great indifference – said the head of the PFR.
Threats to the economy
Bowie Boris also noted the threats to the national economy in 2022. First of all, the ongoing pandemic is the most important Corona virus. It is still difficult to control for the prevalence of successive variables.
– I’ll add to the stakes energy crisisIt is one of the main reasons for price jumps, supply chain problems and high interest rates in the world United States of America Or geopolitical tensions – he said.
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In the opinion of the head of the Political Finance Monitoring Authority inflation Will not pose a “serious threat”, unless It will not get out of hand and will fall within two years. Especially since – according to him – wages are still rising faster than prices.
It is better to have higher inflation than stagnation and unemployment. However, this presents a serious challenge, because it is difficult to assess how much more interest rates will have to be raised and the economy will have to slow down in order to reduce inflation – emphasized the head of the PFR.
The 1920s was a period of “extreme turmoil”
In the interview, Bowie Boris emphasized that “We are at a turning point in terms of economics and geopolitics.”Therefore, seat belts must be fastened. In his opinion, the processes of globalization are slowing down, and instead of expanding supply chains, production is located in the United States and Europe.
There is no dominance of one power, the United States, in terms of technology and the military. We have a technological war between China and countries with the decline of Europe’s role. We have tensions in the Middle East, those related to Russia or Taiwan. There is a general deterioration in international security. A strong energy shock caused by high energy prices. In addition, a giant technological revolution, if you do not participate in it, can quickly lose the competitiveness of the economy – said the “DGP”.
“We have the economy ready to deal with more pandemic disruptions,” he says. He also estimated that the trend of shortening of supply chains for Poland could be positive.
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