The number of Asians working in economic sectors previously dominated by Poles and Ukrainians is increasing every month, according to the newspaper Rzeczpospolita. Asian workers, from countries such as the Philippines and Indonesia, are becoming common-place in the manufacturing, hospitality and construction sectors, the paper writes. They are taking the place, it appears, of Ukrainians…
Prices of consumer goods and services (Consumer Price Index, CPI) rose by 10.8% YoY and were down by 0.2% MoM in July, the Central Statistical Office (GUS) reported on August 14. GUS confirmed its figures reported earlier in a flash CPI estimate. In June, the prices of consumer goods and services increased by 11.5% YoY…
97 companies went bankrupt in Poland in the second quarter of 2023, up by 21.3% YoY, the Central Statistical Office (GUS) reported. The number of newly registered companies totalled 88,549 in the April-June period, down by 5.5%, GUS wrote on August 10. According to GUS, the number of bankruptcies increased mainly in the industrial sector…
The Polish government will allocate PLN 5.5 billion (EUR 1.2 billion) to mitigate high gas and electricity prices for energy-intensive firms in 2023-2024, the Prime Minister’s Office has announced. Although the current market prices of energy and gas are falling, many companies from the industrial sector are bound by long-term contracts with suppliers, based on…
A state subsidised mortgage programme aimed at first-time buyers offers some benefits to those who qualify for it but at the same time has led to an increase in house prices and made it harder for other buyers, according to a report by Amron-Sarfin, a housing financing researcher affiliated with banking lobby ZBP. Under the…
Polish banks plan to tighten the lending criteria for all types of loans in the third quarter, a survey of lending committee chiefs conducted by the Central Bank has shown. Lenders are expected to especially tighten the criteria for small and medium-sized enterprises (SMEs), continuing a trend started in the second quarter. Demand for corporate…
Poland became in 2022 the second biggest exporter to Ukraine after China, a government-affiliated economic think-tank reported. “With a 10% share, Poland became the second biggest supplier to Ukraine after China in 2022,” the Polish Economic Institute (PIE) said. “Poland advanced from the fourth place and overtook Germany and Russia,” PIE wrote, adding that, according…