strategic foreign investors. Poland’s banking sector has approximately 5 domestic banks, a network of nearly 600 cooperative banks and 18 branches of foreign-owned banks. In addition, foreign investors have controlling stakes in nearly 40 commercial banks, which make up 68% of the banking capital.
Poland has a large number of private farms in its agricultural sector, with the potential to become a leading producer of food in the European Union. Structural reforms in health care, education, the pension system, and state administration have resulted in larger-than-expected fiscal pressures. Warsaw leads Central Europe in foreign investment. GDP growth had been strong and steady from 1993 to 2000 with only a short slowdown from 2001 to 2002.
The economy had growth of 3.7% annually in 2003, a rise from 1.4% annually in 2002. In 2004, GDP growth equaled 5.4%, in 2005 3.3% and in 2006 6.2%. According to Eurostat data, Polish PPS GDP per capita stood at 61% of the EU average in 2009.
Although the Polish economy is currently undergoing economic development, there are many challenges ahead. The most notable task on the horizon is the preparation of the economy (through continuing deep structural reforms) to allow Poland to meet the strict economic criteria for entry into the Eurozone. According to the Polish foreign minister Radosław Sikorski the country could join the eurozone before 2016. Some businesses may already accept the euro as payment. In addition, the ability to establish and conduct business easily has been cause for economic hardship as the World Economic Forum recently ranked Poland near the bottom of OECD countries in terms of the clarity, efficiency and neutrality of its legal framework for firm to settle disputes. A report concluded that on-going foreign business disputes issues may "have damaged Poland’s reputation as an attractive location for FDI" by reinforcing the impression of "Poland’s substandard reputation for
