Poland’s current account deficit rose to EUR 3.97 billion at the end of August, against a revised deficit of EUR 1.89 billion recorded at the end of July, according to central bank figures released on October 14. Market analysts expected the deficit to amount to between EUR 0.22 billion and EUR 2.1 billion with the…
Prices of consumer goods and services (Consumer Price Index, CPI) increased by 17.2% YoY and by 1.6% MoM in September, the Central Statistical Office (GUS) reported. The figures are in line with the flash estimate published by GUS on September 30. In August, the prices of consumer goods and services increased by 16.1% YoY and…
Poland’s special-purpose development bank BGK has been actively trading on the FX market, increasing its activity in recent days to limit the weakening of the Polish currency, financial market insiders have said. “BGK has certainly been present regularly since the onset of the war,” one insider said, referring to Russia’s war on Ukraine. At first,…
Poland is mulling a windfall tax and if a decision is made to implement it, the resolution will target particular sectors and not all companies, government spokesperson Piotr Mueller has said. “It does happen that some companies, given the international situation, generate higher profits than they would from natural economic activity, and we have not…
Poland is the number-three country in terms of aid granted to Ukraine, as measured by its ratio to Gross Domestic Product (GDP), recent data from a German think tank has shown. According to the Kiel Institute for the World Economy (IfW), the first place in the ranking of countries providing aid to Ukraine belongs to…
The government has introduced price caps on electricity bills for SMEs, social institutions and households in an effort to protect them from soaring energy costs. From December 1 until the end of 2023 the maximum electricity tariff for SMEs and institutions such as orphanages, schools and hospitals will be set at PLN 785 (EUR 161)/MWh,…
Marlena Malag, the family and social policy minister, said on October 11 that the government wanted to permanently add remote working to the Labour Code in order to make it easier for people to work from home. The minister referred to a news story in the Rzeczpospolita newspaper claiming that the government wanted to encourage…