Poland’s record-high bond yields are a result of pressure from financial markets, Mateusz Morawiecki, the Polish prime minister, has said. Poland’s bond yields crossed the 9% mark on October 21, a level last seen more than 20 years ago, prompting the state-run development bank BGK to forgo a planned bond auction as it expected to…
Poland’s retail sales increased in real terms by 4.1% YoY, but fell by 2.8% MoM in September, the Central Statistical Office reported. Economists polled by PAP expected September’s retail sales to grow in real terms by 4.4% YoY and fall by 2.4% MoM. In current prices, retail sales increased by 21.9% YoY in September against…
The Polish budget closed September with a PLN 27.5-billion (EUR 5.8 billion) surplus, but the results are expected to drop considerably in the months to come, the Finance Ministry reports. Lukasz Czernicki, the ministry’s chief economist, said that at about PLN 38 billion (EUR 8 billion), September’s budget revenue was about PLN 2 billion (EUR…
The government will not fight inflation by raising unemployment, Mateusz Morawiecki, the Polish prime minister, said in an October 21 interview for the Dziennik Gazeta Prawna (DGP) daily newspaper. Morawiecki thus responded to DGP’s query whether the government should not tighten its fiscal policy to back the Polish central bank, the Monetary Policy Council of…
Launched in May, the Lithuanian-Polish gas pipeline GIPL has been tested at its maximum capacity. Two tests were carried out to make sure the pipeline could transmit the full gas flow in accordance with the technical parameters of the GIPL construction without any disturbances. According to the assessment of the Lithuanian and Polish TSOs operating…
Next year’s indexation of Polish old-age and disability pensions will cost the budget PLN 42 billion (EUR 8.77 billion), the family and social policy minister has said. Marlena Malag said that the pensions would be indexed on March 1, 2023. “It is an amount and percentage indexation with a budget of PLN 42 billion,” Malag…
Poland’s industrial output rose by 9.8% both YoY and MoM in September, the Central Statistical Office (GUS) reported on October 20. Economists polled by PAP expected September’s industrial production to grow by 8.8% both YoY and MoM. Manufacturing prices increased by 24.6% YoY in September and by 0.2% MoM, GUS reported. Economists surveyed by PAP…