The Polish Armaments Group (PGZ) and the firm Hyundai Rotem from South Korea will create a consortium to manufacture a Polish version of the Korean firm’s K2 tank. PGZ’s CEO, Sebastian Chwalek said that the consortium should be formed until the end of this month. Under a deal struck with Hyundai Rotem, Poland will buy…
Poland’s average corporate gross monthly wage rose by 13% YoY, to PLN 6,687.92 (EUR 1,418.78) in October, the Central Statistical Office (GUS) said on November 22. In monthly terms, the average wage remained unchanged. Economists polled by PAP expected a 14% annual increase in the corporate wage in October and a 0.7% increase from September.…
Poland’s national statistics office, GUS, wrote on November 22 that Poland’s industrial output rose by 6.8% YoY in October against an 8% annual growth expected in a PAP consensus survey. Compared to the previous month, it shows a decrease by 0.7%. Analysts surveyed by PAP expected a 0.2% monthly increase. Seasonally adjusted industrial output rose…
Poland’s rising trade deficit is mainly caused by high prices, a government-sponsored think tank has said. Poland’s trade deficit hit EUR 14.7 billion after September, the Central Statistical Office (GUS) reported on November 17. Marek Wasinski, an expert with the Polish Economic Institute (PIE), said in a comment to the GUS data that the growth…
PKP Intercity, Poland’s leading passenger railway service, carried a record number of passengers as of mid-November. Since January, PKP Intercity has serviced more than 50 million passengers, according to a statement released on November 17. This is the best result since 2019 when, in the same period, nearly 49 million people traveled on the carrier’s…
Poland’s general government deficit will likely be lower in 2022 than the 4.7% of GDP the government has assumed in the budget law for next year, the central bank’s rate-setting body has said. When preparing the state budget for next year, the government also included its updated expectations concerning key economic figures for the current…
Polish GDP growth will slow to around 1.0-1.5% in the fourth quarter of 2022, the Polish Economic Institute (PIE), a government think-tank, said on November 15 in reaction to the latest figures from the Central Statistical Office (GUS). Poland is currently battling an inflation rate that hit 17.9% last month, while having to contend with…