## Republic of Poland: 2013 Article IV Consultation

_IMF Staff Country Reports, July 23, 2013_

## Source details

**Canonical URL:** [Republic of Poland: 2013 Article IV Consultation](https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-poland-2013-article-iv-consultation-40807)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/republic-of-poland-2013-article-iv-consultation-40807/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/republic-of-poland-2013-article-iv-consultation-40807/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/republic-of-poland-2013-article-iv-consultation-40807/bundle-manifest.json)

## Bibliographic details
- Published: July 23, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484345078.002

---

### Key findings and summary
- Staff report highlights economic development and policies for the Republic of Poland’s 2013 Article IV Consultation.
- The current account in 2012 was primarily financed by EU transfers and foreign direct investment (FDI), notwithstanding a reduction in net FDI inflows.
- Moderate outflows from the domestic banking system were more than offset by strong portfolio inflows into the government bond market.
- The current account deficit and real effective exchange rate are broadly in line with medium-term fundamentals and desirable policies according to the External Balance Assessment models.
- The largely foreign-owned banking system has remained well-capitalized, profitable, and liquid.

### External sector and financing
- Current account (2012): primarily financed by EU transfers and FDI.
- Net FDI inflows: reduction noted (no numeric value provided in source).
- Domestic banking system: moderate outflows recorded.
- Government bond market: experienced strong portfolio inflows.
- Assessment: current account deficit and real effective exchange rate consistent with medium-term fundamentals per External Balance Assessment models.

### Banking and financial stability
- Banking system characteristics:
  - Largely foreign-owned.
  - Remained well-capitalized.
  - Remained profitable.
  - Remained liquid.
- Interaction with external financing: banking outflows were offset by portfolio inflows into government bonds.

### Topics and thematic coverage
- Subject areas covered in the report: Banking, Expenditure, External debt, Financial institutions, Labor, Loans, Public debt.
- Keywords included: authority, banking system resilience, Central and Eastern Europe, CR, debt ratio, Europe, GDP growth, GDP slowdown, Global, ISCR, liquidity support, Loans, MoF NBP, product market, risk burden.

---

## Content in this bundle

- **Republic of Poland: 2013 Article IV Consultation--Staff Report**
  - [Republic of Poland: 2013 Article IV Consultation--Staff Report (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2013/_cr13219.pdf.md){rel="alternate" type="text/markdown"}
  - [Republic of Poland: 2013 Article IV Consultation--Staff Report (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2013/_cr13219.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-poland-2013-article-iv-consultation-40807_