Poland’s consumer prices increased more than economists expected in June, data released by the statistical office showed Friday.
The consumer price index increased 4.3 percent in June compared to a year earlier, while economists expected a 4.1 percent gain. In May, inflation was 3.6 percent. Continue reading
Profits at Poland’s banks are expected to fall 30 percent by end-2014 as a result of bad loan provisions stemming from the economic slowdown, a central bank report said on Tuesday.
The forecast is much more pessimistic than the prevailing view among analysts and signals a sharp about-face for the sector, which posted record profits last year. Continue reading
The Polish economy has, on average, performed better than peers throughout the crisis despite the challenging environment in Europe, the IMF said in its annual report on the state of the economy.
This reflected very strong fundamentals, sound policies, and confidence in the economy due in part to the Flexible Credit Line (FCL) arrangement with the IMF. The report added that―given the more limited room for maneuver on the fiscal front―monetary policy should be the first line of defense in providing support to the economy in the event the eurozone crisis intensifies. Continue reading
Manufacturing in Poland and the Czech Republic continued to contract in June, according to surveys published Monday, as the economies of central Europe are weighed down by the debt and financial crisis of the region’s euro-zone trading partners. Hungary’s manufacturing output grew for a second month. Continue reading
Poland has recently ascended into the global spotlight as it co-hosts Euro 2012, the European soccer championships. The right to host this tournament is essentially the culmination of a remarkable transformation the Polish economy (PLND, quote) has undergone since it embraced capitalism.
For decades, the Polish economy languished under the restrictive grip of communism. As a Soviet satellite state, Poland had little choice but to pursue economic policies that rendered the Polish economy feckless. Continue reading
Poland’s slowing economy
A star performer in Europe that should be doing even better
POLAND’S new national stadium is a symbol of optimism. The firm that built it is as German as it is Polish. Germany’s football team is also a symbol: two of its best players are as Polish as they are German. In economics, Poles and Germans get along as never before. Germany benefits from low production costs on its doorstep. Poland gains from German demand and investment. It boasts the fastest growth in the EU: this year, GDP should rise by at least 2.7%. Continue reading
The European Commission’s latest economic forecast ranked Poland as the fastest developing EU member state in 2012, although it revised the country’s growth estimate downwards for 2013. But analysts appear much more optimistic than the EU executive and insist that the Polish economy will do even better next year.
Greece’s growing political problems are having a knock-on effect on the Polish zloty as investors flee emerging markets, which in turn is causing political problems for Poland’s government.
The Polish zloty slumped by 2 per cent against the dollar and by 1.4 per cent against both the euro and the Swiss franc on Monday, continuing a slump that has seen the zloty fall from 4.08 to the euro in mid-March to 4.30. Continue reading
Hundreds of Polish union members protesting against plans to raise the retirement age chained together barriers meant to keep them out of parliament on Friday, in order to lock lawmakers in.
“We will decide when they will leave (the parliament),” Solidarity trade union leader Piotr Duda said as several hundred protesters, many waving flags emblazoned with the union’s logo, surrounded the parliament building. Continue reading
Poland’s parliament has approved plans by the centre-right government to raise the age at which most Poles can retire to 67 years.
Under the new law, the retirement age will be gradually moved upwards, from the current age of 65 for men and 60 for women. Continue reading