Poland is an ancient nation that was conceived near the middle of the 10th century. Its golden age occurred in the 16th century. Since 1990, Poland has steadfastly pursued a policy of economic liberalization and today stands out as a success story among transition economies. In 2006, GDP grew 5.3%, based on rising private consumption, a 16.7% jump in investment, and burgeoning exports. Poland today has a thriving private sector which created more than 300,000 new jobs during 2006 alone. GDP per capita roughly equals that of the three Baltic states. Consumer price inflation - at 1.3% in 2006 - remains among the lowest in the EU. Inflows of direct foreign investment exceeded $10 billion in 2006 alone, and more than $100 billion since 1990, with major investments being announced by foreign firms in computer, consumer electronics, and automobile component production. However, unemployment, which stood at 15% in December 2006, is still the highest in the EU. An inefficient commercial court system, a rigid labor code, bureaucratic red tape, and persistent corruption keep the private sector from performing to its potential. Agriculture is handicapped by inefficient small farms and inadequate investment. In addition, reforms in health care, education, the pension system, and state administration have failed so far to reduce the government budget deficit, which was roughly 2.7 percent of GDP in 2006. The new government has proceeded cautiously on economic matters, however, retaining, for example, the corporate income tax cuts initiated by the previous administration and indicating its intention to reduce the top personal income tax rate.