As yet another sign that much of the economic growth in Europe during a time of global financial crisis will occur in Eastern Europe, Poland is expected to post some of the most impressive economic figures in the region.

Poland is already East/Central Europe’s largest economy and the Polish Confederation of Private Employers now estimates that growth in 2009 will stand at a very healthy 5.3 percent.

Representatives of the Confederation noted that this prognosis means that Poland’s economy will be second only to the region’s economic powerhouse, Slovakia.

Financial experts were also quick to point to point out that unlike in the West, Poland is not plagued by a teetering banking sector.

Major financial institutions are in no danger of insolvency or collapse and the only difficulty that investors in Poland face, as well as most Poles looking to purchase a new home or car, is that lending conditions have become more stringent.

Poland remains a major destination for foreign investors, as the country has demonstrated a high degree of economic stability over the years. 

Most financial observers estimate that foreign investments in Slovakia will reach $17 billion by the end of 2008 and that this rate is likely to remain high in 2009, despite the global economic crisis.

One reason why Poland is still so attractive to investors is because official statistics reveal that retail sales remain very strong and industrial production also continues to increase.

Poland and Slovakia are now clearly the best performing emerging markets in Eastern Europe and the financial status of these two countries rivals nearly all Western nations.