As many as 94% of Polish companies have felt the negative effects of Russia’s war in Ukraine, a government think-tank has reported.
According to a research carried out by the Polish Economic Institute (PIE), on July 1, 94% of Polish companies felt a “stronger or weaker” impact of the war in Ukraine on at least one area of their business.
“75% of surveyed firms have named the war as a strong headwind affecting their business,” PIE said in its weekly publication on July 7.
The hostilities have also hit the companies’ pricing policy, with 70% saying that the war “has strongly influenced” price hikes.
This is a consequence of a steep rise in business costs as a result of Russia’s attack on Ukraine, as reported by 63% of companies, and disrupted supply chains, as indicated by 36% of firms.
A quarter of all surveyed companies say that the war has dampened demand for their products or services.
The war has also disrupted business models for a large number of Polish firms.
“Companies which before the war conducted business with eastern markets, including Russia, Belarus and Ukraine, will have to modify or completely change their business models,” PIE said. (The First News/Business World Magazine)