On the basis of the data of the Regional Data Bank and the indicators of the Ministry of Finance, an attempt was made to evaluate the investment capabilities of local communal governments. An analysis was performed on several budgetary and non-budgetary indicators evaluating communes' investment capabilities with regard to investment. The main research question is how the economic slowdown is influencing the investment potential of local communal governments in Poland. The results of the presented research indicate communes' significant resistance to negative macroeconomic trends, as well as maintenance of the unhindered pace of the implemented investments.

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