What was Gierek known for in his policies?
Foreign loans
Military expansion
Isolationism
Tax cuts
Answer
Foreign loans were a hallmark of Gierek's policies. He sought to modernize Poland's economy by borrowing heavily from Western banks. This influx of capital allowed for significant investment in infrastructure, housing, and industry. However, the loans came with high interest rates and short repayment periods, which ultimately proved unsustainable. The resulting debt crisis contributed to Poland's economic difficulties in the 1980s.
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