NBP: Foreseen is a gradual reduction of the demand surplus over supply on the labour market. It is expected that low unemployment, fast-rising real wages, a raised minimum wage and the partial closure of the existing wage wedge will draw more Poles to the labour market (especially the young and elderly). Awaited in 2009 are final decisions on early retirement, which should further encourage the pre-retirement group to greater economic activity. Economic activity will also be enhanced by changes in the population’s age structure, especially the rising presence of traditionally highly-active age groups.
(Source: NBP Inflation Report, end-June, 2008, www.nbp.pl)
Of course there are many more tasks ahead for economic policy. Among others, the government has promised a package of structural and institutional reforms, which will certainly be discussed in coming Economic Monitor issues.