The actual scale of migration and its impact on the economy can often be quite different from how citizens perceive these phenomena. In 2024, approximately 2.5 million foreigners arrived in Poland. However, one in three Poles believes the number is over 3 million. Despite 62% of Ukrainian refugees in Poland being employed, 76% of Poles…
The number of people earning over PLN 10,000 (2,300 euros) gross per month increased to 1.5 million in Poland in 2022, according to a report by KPMG. However, the group of people with net assets exceeding $1 million fell by a tenth. The number of people exceeding the second tax threshold (PLN 120,000 gross per…
A report by the Polish Economic Institute (PIE) – ‘Work-life balance and flexible forms of work organization’ – shows that Poles work an average of 40.4 hours a week, 3 hours longer than the EU average and 8 hours longer than in the Netherlands, where working hours are the shortest in Europe. At the same…
Central Statistical Office (GUS) data show that wage growth remains rapid and has again exceeded economists’ forecasts, while employment remains high and real wage growth is the highest in at least a quarter of a century. In February, the growth rate of average wages again exceeded the already high forecasts of economists for the second…
The World Bank increased its annual GDP growth forecast for Poland to 3.0% in 2024, primarily on the back of the recovery in private consumption, but economic activity in the emerging and developing economies of the Europe and Central Asia region is likely to slow this year as a weaker global economy, tight monetary policy,…
Poland’s government will end 0% VAT on food introduced two years ago to help soften the blow of soaring inflation. The finance ministry said the recent slowing of price rises renders the measure no longer necessary. “Due to the latest inflation readings and forecasts of prices of basic food products subject to the transitional 0%…
Moody’s confirmed Poland’s long-term foreign currency rating at the “A2” level, and its outlook remains stable, the agency said in a statement. The stable rating outlook is supported by the significant improvement in relations with the EU since the change of government in December 2023. “In addition to unlocking significant EU funds, this has already…
Industrial production in February 2024 increased by 3.3% compared to the previous year. On a monthly basis, it increased by 0.7%, according to the Central Statistical Office. In February, sold industrial production was higher by 3.3% compared to February last year, when there was a decrease of 1.6% compared to the same period of the…
According to Central Statistical Office (GUS) data, Poland had a foreign trade surplus of €10.5 billion in 2023, with the country’s largest partner again Germany. Although Poland had a trade surplus in many regions, a foreign exchange deficit of €79.3 billion in trade with China stood out. According to the report presented by GUS on…
More than 60% of Central European CFOs expect revenue growth this year. According to those surveyed, the average GDP growth rate in the region in 2024 will be 1.1%. Central European companies have become accustomed to operating in a difficult economic environment, say chief financial officers (CFOs) from Central European countries. While more than half…
Bank Millennium believes the Polish economy will gradually recover this year, driven by stronger consumer sentiment. Economic growth at 2.9% with an upward outlook, which will be driven primarily by resurgent private consumption, a reduction in average annual inflation to just over 5%, and possible interest rate cuts of 50-75 bps – are Bank Millennium’s…
In 2024 approximately PLN 77 billion (€18 billion) will go to Poland from the National Reconstruction Plan, according to the Deputy Minister of Finance Hanna Majszczyk. Prime Minister Donald Tusk said during a press conference on January 29 that the Polish government enjoys the trust of strategic partners abroad and therefore he does not see…