Poland is a parliamentary republic, located in Central Europe. Parliament consists of two houses: the 460-seat Sejm (the lower house) and the 100-seat Senate (the upper house). The president is elected in a direct ballot and has the right to veto legislation or send it for review to the Constitutional Tribunal. The Sejm needs a three-fifths majority to override a presidential veto. Poland is the 25th largest economy in the world (by GDP PPP), but is ranked only 66th by GDP per capita. Poland’s economy is highly integrated with the European Union, which buys around 79% of Polish merchandise exports. Total external trade volume is 48% of GDP. The central bank, National Bank of Poland (NBP), pursues an inflation-targeting approach to monetary policy and maintains a free floating exchange rate regime. High external debt burden, political and policy uncertainties and non-diversified external trade structure are usually named among key weaknesses of Poland’s economy.