The latest GDP data show that Poland may see a “soft landing” and avoid a recession, the Finance Ministry has said. Poland’s Gross Domestic Product (GDP) increased by 2% YoY in the fourth quarter of 2022, the Central Statistical Office (GUS) reported in a flash estimate. Poland’s economy expanded by 3.6% YoY in the third…
Poland’s Gross Domestic Product (GDP) increased by 2% YoY in the fourth quarter of 2022, the Central Statistical Office (GUS) reported in a flash estimate on February 14. Quarter on quarter, the GDP shrank by 2.4%. Poland’s economy expanded by 3.6% YoY in the third quarter of 2022 after a 5.8% growth in the second…
Poland’s current account deficit fell to EUR 2.53 billion at the end of December 2022, against a deficit of EUR 313 million recorded at the end of November 2022, according to central bank figures released on February 13. Market analysts expected the deficit to amount to EUR 1.51 billion. Poland recorded a EUR 2.72-billion deficit…
The European Commission (EC) has downgraded predicted Polish GDP growth in 2023 from 0.7% to 0.4%. “Elevated inflation and low consumer and business confidence are expected to keep weighing on economic growth in the coming quarters,” the EC wrote on February 13 in its Winter 2023 Economic Forecast. “In particular, declining real incomes amid an…
The value of Polish exports to Russia fell by almost 40% YoY from January to November 2002, analysts from the Polish Economic Institute (PIE) said. In a PIE report on the economy, experts added that the decline in exports had occurred despite a general increase in the total value of Polish exports and prices. PIE…
Adam Glapinski, head of the National Bank of Poland (NBP), has said that the country’s interest rates are now at an adequate level following a series of rate hikes. The Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, decided to keep the reference interest rate at 6.75% on February 8. “According to our…
Poland’s average corporate gross wage rose by 12.3% YoY, to PLN 6,733.49 (EUR 1,433) in the fourth quarter of 2022, the Central Statistical Office (GUS) said on February 9. In quarterly terms, the average wage went up by 3.9%. (PAP/Business World Magazine)