More than half of Polish companies are concerned about rising inflation in 2024, according to data from the Monthly Business Climate Index compiled by analysts of the Polish Economic Institute (PIE).
Pessimistic energy price forecasts persist among businesses in Poland. According to data from the December 2023 edition of the Monthly Business Climate Index compiled by analysts from the government-funded Polish Economic Institute, 81% of surveyed companies assume that the price of energy will increase in 2024.
The experts reported that 57% of businesses believe that inflation would increase in 2024, 19% had no opinion on this and 24% said that the consumer price index would not increase.
PIE added that 39% of respondents agreed with the statement that interest rates would rise this year, while 36% held the opposite view.
According to PIE, an increase in unemployment in 2024 was expected by 37% of companies.
“Throughout 2023, Poland saw very low levels of unemployment and, despite high economic uncertainty, rising labour costs and high inflation, the labour market in Poland was stable,” the analysts noted.
The data indicate that Polish businesspeople are most pessimistic about the future of the war in Ukraine. Out of all those surveyed, 57% do not expect an end to the armed conflict in 2024, while 10% hold the opposite view.
The survey was conducted on a representative sample of 500 companies as part of PIE’s monthly polls of seven areas of business activity in Poland. (PAP/Business World Magazine)