the World Bank’s latest Global Economic Prospects report.

Sharp, Long-lasting Slowdown to Hit Developing Countries Hard

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…

Michał Szymański, CEO of VIG / C-QUADRAT TFI S.A.

Poland’s macroeconomic situation in the new context

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…

industrial production in Poland

Record increases in industrial production

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…

National Bank of Poland

Interest rates up

The Monetary Policy Council unexpectedly decided to increase the NBP reference rate by 0.4 percentage points, from 0.1 to 0.5 percent.  At  the  same  time,  the Council  set  the  remaining  NBP  interest  rates  at  the following levels: ▪ lombard rate at 1.00%;  ▪deposit rate at 0.00%; ▪rediscount rate at 0.51%; ▪discount rate at 0.52%. Moreover,…