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Poland Required Short-Term Changes
Modernization was a fundamental requirement. Because a
considerable part of Poland's capital stock was obsolete
or in
poor condition, a very large share of the country's
industrial
products was of poor quality. The system lacked a
well-developed
modern infrastructure, particularly in financial
institutions,
transportation and telecommunications, and housing
(see Transportation and Communications
, this ch.;
Housing
, ch.
2).
Without major improvement of infrastructure, the economy's
overall efficiency could not be raised significantly.
Reform was
further hampered by a shortage of well-trained managers
and
enterprise staff who understood the workings of the modern
freeenterprise economy and could function efficiently in such
a
system. Expenditures necessary to meet these needs were
restricted or delayed, however, by simultaneous
requirements to
reduce inflation and the balance of payments
disequilibrium.
Data as of October 1992
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