Poland: "Thank you for being incompetent, Erdogan?"
this post was submitted on 19 Nov 2023
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Poland's GDP at the end of 2023 should nominally reach over 860 billion US dollars. This would mean that our economy will overtake Turkey's and become one of the 20 largest economies in the world.
Such estimates, based on the latest data from the International Monetary Fund, were made on the website Bizblog Spider 39;s Web journalist RafaΕ Hirsch. As he notes, for several years our economy - in terms of the nominal level of GDP, converted into US dollars - has been around 21st in the world. This is also its position in the latest IMF ranking.
Except that the conversion from zlotys and Turkish lira to dollars takes place at the historical exchange rate. Meanwhile, the zloty is strengthening against the dollar (currently the exchange rate is approximately PLN 4.03, the lowest since July), and the lira is constantly losing its value. Currently, you have to pay almost 29 lira for a dollar, compared to below 20 about half a year ago and 26-27 during the holidays. If the countries' GDP were converted at current exchange rates, our GDP would be higher than Turkey's - which means entering the TOP20 of the world's largest economies.
Poland into G20?
Unlikely, since the G20 isn't strictly the 20 largest economies. It's spread out a little more to get in some influential economies that aren't quite as large in raw GDP terms. Fellow Europeans Spain and the Netherlands are both in the top 20 and larger than Poland, but not in the G20 (although Spain has a permanent guest invite). On the other side of that, Argentina and South Africa are members, presumably because they're very influential in their regions despite not technically being in the top 20. The EU is a member, though, so Poland is sort of indirectly represented.