regulation and
privatization of the economy, enhancing the viability of the
financial system, and increasing trade integration with the region.
Prospects for 2004 will depend on the economic performance of two
major trading partners, the US and Japan, and on increased
confidence on the part of the international investment community.

Pitcairn Islands
The inhabitants of this tiny isolated economy exist
on fishing, subsistence farming, handicrafts, and postage stamps.
The fertile soil of the valleys produces a wide variety of fruits
and vegetables, including citrus, sugarcane, watermelons, bananas,
yams, and beans. Bartering is an important part of the economy. The
major sources of revenue are the sale of postage stamps to
collectors and the sale of handicrafts to passing ships.

Poland
Poland has steadfastly pursued a policy of economic
liberalization throughout the 1990s and today stands out as a
success story among transition economies. Even so, much remains to
be done. The privatization of small and medium state-owned companies
and a liberal law on establishing new firms has encouraged the
development of the private business sector, but legal and
bureaucratic obstacles alongside persistent corruption are hampering
its further development. Poland's agricultural sector remains
handicapped by structural problems, surplus labor, inefficient small
farms, and lack of investment. Restructuring and privatization of
"sensitive sectors" (e.g., coal, steel, railroads, and energy),
while recently initiated, have stalled. Reforms in health care,
education, the pension system, and state administration have
resulted in larger than expected fiscal pressures. Further progress
in public finance depends mainly on privatization of Poland's
remaining state sector, the reduction of state employment, and an
overhaul of the tax code to incorporate the growing gray economy and
farmers, most of whom pay no tax. The government's determination to
enter the EU has shaped most aspects of its economic policy and new
legislation; in a nationwide referendum in November 2003, 77% of the
voters voted in favor of Poland's EU accession, now scheduled for
May 2004. Improving Poland's export competitiveness and containing
the internal budget deficit are top priorities. Due to political
uncertainty, the zloty has recently depreciated in relation to the
euro, while currencies of th