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…
The number of official employees from Belarus, applying for pension and disability insurance, has increased by nearly 40% in the 2022-2023 period, Poland’s social insurance institution ZUS has reported. According to ZUS data, at the end of June, 121,700 citizens of Belarus were insured with ZUS against 87,700 at the end of June 2022. In…
Poland’s manufacturing sector purchasing managers’ index PMI fell to 43.5 points in July from 45.1 in June, a report by S&P Global showed. “Output, new orders, exports, employment and purchasing activity all decreased more quickly in July than in June amid widespread reports of demand weakness,” S&P Global said in a report on August 1.…