Economists believe that 2024 will see a recovery of the Polish economy, while 70% of Poles say that this year will be better for them financially than the previous one, an increase of 11 percentage points compared to a previous Ipsos study. But two out of three Polish respondents claim that prices will grow faster…
A further decline in orders and poor data from industry resulted in a deterioration of business sentiment in late 2024. This weakens the willingness to invest and employ new workers. However, this is a deeper problem for the whole of Europe, which is recovering slowly from the post-COVID crisis and must, including Poland, change its…
In recent years, we have become accustomed to numerous changes in tax law coming into force on the first of January. New legislation was usually passed in the last months of the previous year and took effect after a very short vacatio legis. So short, in fact, that the first weeks of each new year…
After a sharp decline in 2020 and a strong recovery in 2021, global direct investment in 2022 fell by 12% to $1.3 trillion. According to reports from international organizations (including UNCTAD), the decline was caused by global factors, related to the war in Ukraine, high energy and food commodity prices, rising interest rates and uncertainty…
BGK’s pioneering loan will support Rwanda’s development. The Polish Development Bank (BGK) has provided direct financing to the Rwandan state treasury for the purchase of a Polish milk cooling system. The loan to the buyer with a policy from the Export Credit Insurance Corporation is €23 million and is the first such financing provided by…
The Polish Chamber of Commerce summarizes GUS data on the economic situation of the provinces and industries in January-September 2023. Unemployment At the end of September this year, the number of registered unemployed amounted to 776,000, which was 6,500 lower than at the end of August and 25,700 lower than a year ago. The unemployment…
Below are some of the highlights from the SGH and Economic Forum Report, a cyclical publication that since 2018 has summarized the most important economic and social processes taking place in Poland and in the countries of the Central and Eastern European (CEE) region. Development trajectories of CEE countries – the impact of the COVID-19…
2023 global growth to slow to 1.7% from 3% expected six months ago, according to World Bank latest forecast. In Poland in 2023, economic growth is expected to decelerate sharply to below 1 percent, in line with the much weaker growth expected for the euro area, where GDP is expected to record 0 percent growth…
On Friday 11 November, the European Commission lowered its forecast for Poland’s GDP growth in 2022 from 5.2% to 4.0%, and in 2023 from 1.5% to 0.7%. According to the Commission, an economic rebound is to take place in 2024, when the economy will grow by 2.6%. “Economic growth is expected to decelerate markedly in…
Poland’s macroeconomic situation in the context of war in Ukraine should be analysed from a few perspectives. First, direct economic impact. That is in fact quite limited. Combined export to Ukraine and Russia is around 5% of total Polish export. Belarus does not add much either. Also direct investments in Russia, Belarus and Ukraine were…
Forecasts are always subject to the risk of uncertainty and in the present conditions they are particularly reminiscent of fortune-telling from tea leaves. Economists are divided into two camps. Optimists claim that the global economy, and therefore also the Polish economy, has probably entered a path of growth. The pessimists point to a number of…
In November, Polish industry increased production by 15.2% annually, Statistics Poland reported. Excluding readings from April and May – which were burdened with the low base effect from 2020 – the November reading is the highest for the entire year. According to Mariusz Zielonka, an economic expert at the Polish Confederation Lewiatan, this excellent result…