Poland’s listed energy concern Orlen has taken over a 100% stake in Kufpec Norway, a unit of the international oil company Kuwait Foreign Petroleum, which is engaged in exploration in Norway. The deal has a transaction value of $445 million as estimated for January 1, 2024, Orlen has said in a press statement. Thanks to…
Poland’s core inflation, which excluded the prices of food and energy, measured 8% YoY in October and was down from September’s 8.4%, the National Bank of Poland (NBP) said. Inflation excluding fixed prices amounted to 5.1% in October, down from the level of 6.8% in the previous month. Inflation excluding the most volatile items measured…
Poland’s workday-adjusted industrial production fell by 0.9% YoY in September, following a 1.9% decline in August, according to EU stats office Eurostat. In the euro zone, industrial output fell by 6.9% YoY and by 1.1% MoM in September after a 5.1% annual decline and a 0.6% monthly rise in August, Eurostat said. (PAP/Business World Magazine)
The European Commission cut the GDP growth forecast in Poland to 0.4% in 2023, slightly down from 0.5% estimated earlier, while it maintained the estimate for 2024 at 2.7%, the Autumn European Forecast showed. “The Polish economy remained weak in the first half of 2023, but was set to return to growth in the third…
Poland’s economic growth in 2024 will surprise to the upside and may significantly exceed 3%, the head of the Polish development fund PFR Pawel Borys has said. “I believe that Poland’s economic growth in 2024 will surprise positively and could be significantly above 3%,” Borys wrote on the X platform. “A soft landing scenario is…
Poland’s long-term rating in foreign currency was affirmed at the A- level with stable outlook by global rating agency Fitch on November 10. According to the agency, “Poland’s ratings are supported by a diversified economy, a fairly sound macroeconomic framework anchored by EU membership, and slightly lower public debt levels than rated peers. This is…
Poland’s inflation is expected to fall further, but at a slower pace than to date, the central bank’s governor, Adam Glapinski, has said. “Inflation will still be decreasing in Poland, but its further decline will be slower than to date,” Glapinski said at a press conference on November 9, the day after the Monetary Policy…