The National Bank of Poland (NBP) prefers to act gradually on interest rates, with potentially several minor cuts rather that a single larger one, the central bank’s governor has said. Adam Glapinski held a press conference on October 5, a day after the NBP’s Monetary Policy Council cut Poland’s interest rates by 25 basis points,…
On October 4, the Ministry of Finance of Ukraine, together with the Secretariat of the Cabinet of Ministers of Ukraine and the KfW Ukraine, reviewed the portfolio of joint projects for the first time since 2021. The event was held online. The review was chaired by Deputy Minister of Finance of Ukraine Olga Zykova, Director…
Poland’s Gross Domestic Product (GDP) increased by 5.3% YoY in 2022, the Central Statistical Office (GUS) reported in its corrected estimate on October 5. In April, GUS reported that Poland’s economy grew by 5.1% in 2022. “In accordance with the corrected estimate, Poland’s GDP grew in real terms by 5.3% in 2022,” GUS wrote. “This…
The threshold of the aid de minimis provided by the state to enterprises will increase to the level established by EU. The parliamentary commission for economy, budget and finances will propose the adjusting of the legislation in the field of state assistance to the European Union’s norms. The updating of the threshold of the aid…
The Cabinet of Ministers of Ukraine has approved the redistribution of subventions from the state budget to local budgets to enable the implementation of 33 additional regional recovery projects. The relevant amendments were made to Government Order No. 596-p dated July 4 at the initiative of the Ministry for Communities, Territories and Infrastructure Development of…
The aggregate value of mortgage loan enquiries in Poland increased by 248.8% YoY in September, the Credit Information Bureau (BIK), a credit-scoring agency reported quoting requests for verification sent by commercial and cooperative banks. A total of 36,590 potential borrowers applied for a mortgage loan in September, compared to 13,580 a year earlier, an increase…
Government borrowings to the state budget’s general fund came to UAH 1.2 trillion in January-September. That’s according to the Finance Ministry’s press service. “Actual state borrowings to the state budget’s general fund in January-September 2023 amounted to UAH 1,219.4 billion, or 89% of the plan for this period,” the report says. According to the Finance…