SMART GROWTH OF THE EUROPEAN UNION COUNTRIES IN THE CONTEXT OF EUROPE 2020 STRATEGY GOALS

The article presents the results of research on the state of implementation of limited aspects of the European Union Europe 2020 Strategy. Based on the analysis of statistical data, the paper indicates possible scenario concerning the achievement of one of the most important Europe 2020 Strategy goal (level of R&D expenditure). An attempt was also made to verify the thesis that there is a close relation between the level of expenditure on R&D in relation to GDP and the competitiveness of a given economy. The findings lead to the conclusion that there is a positive correlation between expenditure on R&D in relation to GDP in a given country and the competitive position of economies. However, weak dynamics of growth in outlays in R&D field may result in failure to achieve the assumed indicators and thus worsen the competitive position of the EU countries in the global world.