The Polish government has adopted a PLN 5-billion (EUR 1.07 billion) programme of subsidies for sectors that consume excessive amounts of energy to protect them from soaring energy prices. Polish consumers face sharp increases in electricity and gas bills owing to a boycott of Russian carbon fuels and a global energy crunch. “It is yet…
The Polish Prime Minister, Mateusz Morawiecki, has said that the 16% minimum hourly rate hike means that the government is restoring the dignity of work. The minimum hourly wage has gone up to PLN 22.80 (EUR 4.87) from PLN 19.70 (EUR 4.21). “From January 1, the minimum hourly wage has risen to PLN 22.80 per…
Poland’s Purchasing Managers’ Index (PMI) rose to 45.6 points in December 2022 from 43.4 points in November 2022, economic researcher S&P Global reported on January 2. Despite the rise, the PMI was below the neutral 50-point mark for the eighth month in a row. Both manufacturing and new orders declined in December 2022 while employment…
The average Pole planned to spend PLN 195 (EUR 41.50) on this New Year’s Eve, up by 5% YoY. In a Quality Watch survey for debt registry BIG InfoMonitor, 24% said they would not spend any additional money on New Year’s Eve and the figure was 7% higher than last year. 5% of Poles said…
Polish refinery Rafineria Gdanska and fuel importer Unimot have been put on a protected entities list by the Polish government after concerns raised over Rafineria Gdanska’s sale to Saudi firm Aramco. In early 2022, Poland’s biggest fuel firm, PKN Orlen, took over its smaller peer Lotos but was required by the European Commission (EC) to…
Poland’s current account deficit rose to EUR 5.78 billion at the end of Q3, against a revised deficit of EUR 4.42 billion recorded at the end of Q2, according to central bank figures released on December 29. Exports of goods in the third quarter grew by 24.8% YoY and imports by 27.1%. The country recorded…
The number of Polish firms planning to lay people off has increased sharply, despite employment standing at a record level, a new study has revealed. Grant Thornton’s report, published on December 29, found that in the coming 12 months, employers planned to decrease the number of jobs rather than create new ones. “The CEOs of…