According to the National Bank estimates, GDP will decline by at least a third at the end of the year. “As a result of the war, we expect GDP to decline by at least a third. We expect the inflation rate to speed up and exceed the 20% level,” Deputy NBU Governor Serhiy Nikolaychuk said…
Poland’s average corporate gross monthly wage rose by 13.5% YoY, to PLN 6,399.59 (EUR 1,379) in May, the Central Statistical Office (GUS) said on June 21. In monthly terms, the average wage fell by 3.4%. Economists polled by PAP expected a 14.7% annual increase in the corporate wage in May and a 2.4% monthly decline.…
The effects of Russia’s war on Ukraine are already being felt by producers of strong alcohol and spirits in Estonia. Raw material shortages caused by the war are expected to lead to major price increases by fall at the latest. Spirits companies are also preparing for some of their products to disappear from supermarket shelves.…
Poland’s industrial output rose by 15% YoY in May, the Central Statistical Office (GUS) reported on June 21. Month on month, industrial output increased by 1.4%. Economists polled by PAP expected May’s manufacturing to grow by 16.7% YoY and by 2.5% MoM. Seasonally adjusted industrial production went up by 11.9% YoY, but declined by 1.7%…
Russia’s exclave of Kaliningrad is not under blockade, and transit sanctions only affect a limited list of goods, Lithuania’s Prime Minister Ingrida Simonyte emphasized, rejecting Moscow’s accusations that Vilnius was violating international treaties. “There’s no blockade of Kaliningrad. It’s just that since last weekend, sanctions have come into force on some of the goods included…
According to a report from employment and HR consultancy Personnel Service, Poland ranks third in Europe in terms of the number of people working in the automotive sector. According to Personnel Service, based on Eurostat data, over 12.7 million people in the European Union are employed directly or indirectly in that sector. Employment in the…
World Health Organization (WHO) has donated to the Ministry of Health a new batch of medicines, medical supplies and disinfectants for managing the refugee crisis in Ukraine and the COVID-19 pandemic. According to the ministry, 200,000 bottles of hand hygiene solution, 770 kg of medicines, medical supplies and 900 ampoules of Tocilizumab – an injectable…