The expenditures of Poles on travel and tourism in 2022 stood at PLN 86.6 billion (EUR 19.44 billion), up by 50.1% YoY, the Central Statistical Office (GUS) reported on June 29. Of the total spent, domestic travel and accommodation accounted for PLN 42.1 billion (EUR 9.45 billion), up by 31.9%, and foreign travel and accommodation…
The Polish Development Fund (PFR) is creating a financial instrument to support the investment activities of Polish small and medium-sized enterprises (SMEs) in Ukraine, a deputy minister for funds and regional policy has announced. Jadwiga Emilewicz told a press conference on June 27 that one of the forms of support for Polish SMEs participating in…
Global rating agency Standard and Poor’s (S&P) has raised Poland’s economic growth forecast to 1.1% in 2023 from 0.9% expected earlier. At the same time, S&P cut its forecast for 2024 by 0.2%, to 3.2%, the company stated in a report published on June 26. According to the agency, after 2023, economic growth in Poland,…
The Polish government would extend the zero-VAT rate on some foodstuffs until the end of 2023, the prime minister announced on June 26. Under current regulations, the zero-VAT rate on some staple foods, such as vegetables and dairy products, which was introduced on February 1, 2022, was due to expire at the end of June.…
The European Commission (EC) has offered EUR 65.9 million to the Central Transportation Hub (CPK) company for the construction of a high-speed railway line connecting Warsaw and Lodz in central Poland where the massive air, road and rail hub is to be built. “The EC has granted the Central Transportation Hub (CPK) company around PLN…
Poland’s retail sales decreased in real terms by 6.8% YoY and by 1% MoM in May, the Central Statistical Office said on Jne 22. Economists polled by PAP expected May’s retail sales to fall in real terms by 5.6% YoY and to grow by 0.6% MoM. In current prices, retail sales increased by 1.8% YoY…
Poland’s industrial output fell by 3.2% YoY in May, the Central Statistical Office (GUS) reported on June 21. Month on month, industrial output decreased by 4.4%. Economists polled by PAP expected May’s industrial production to fall by 3% YoY, but to increase by 5.1% MoM. Manufacturing prices increased by 3.1% YoY in May, but fell…