A reduction in VAT introduced in 2022 to counter the rapid increase in prices cost the Polish budget PLN 37 billion (EUR 7.9 billion), a deputy finance minister said. Last year, Poland lowered the VAT rate on basic foodstuffs, fertilisers and fuels. The government also cut the excise tax on fuels and energy. “In 2022,…
Rating agency Standard and Poor’s (S&P) has maintained Poland’s economic growth forecast at 0.9% in 2023. At the same time, S&P upgraded its forecast for 2024 from 3.2% to 3.4%, the company said in a report published on March 28. Poland’s average annual inflation (HICP) is now expected to hit 11.8% and ease to 6.2%…
A bus from Pila has been spectacularly transformed into an armoured hospital wagon and sent to help the wounded in Ukraine. Gifted to the humanitarian organisation Humanosh by Pila City Hall and transport authority MZK, the Solaria Urbino 10 bus is protected by 8 mm shrapnel-resistant armour, fine mesh coverings over the windscreen and metal…
A group of Polish business unions sent an open letter to the Polish Agricultural Minister Henryk Kowalczyk urging to reject a controversial draft decree. Under this decree, veterinary rules with regard to ASF in Poland are planned to be eased for backyard farms keeping up to 10 pigs. Backyard farms will get a waiver to…
Mateusz Morawiecki, the Polish Prime Minister, has said that the Polish banking system is safe despite anxiety in the financial markets caused by concerns over the health of the global banking sector. The share prices of banks across Europe have fallen recently following a rushed takeover of Swiss banking giant Credit Suisse and the collapse…
The purchasing power of Polish citizens reached 79% of the EU average in 2022, the head of a government-affiliated economic agency said. Buoyed by years of economic growth, Poland has been gradually catching up on its western European peers, and now appears to be closing in on parity. “Poland at 79% of European average in…
Poland hopes that 2023 and the coming years will give further positive dynamics to the development of trade and investment cooperation with he countries of Central Asia, a source at the Ministry of Economic Development and Technology of Poland has said. “We see opportunities for the development of economic cooperation both with today’s largest economic…