Rating agency Standard and Poor’s (S&P) has downgraded Poland’s economic growth forecast to 4% in 2022 from 4.5%. At the same time, S&P has lowered its forecast regarding Poland’s economic growth in 2023 from 2.1% to 1.2%, the company has said in a report published on September 28. The downward forecast revision “reflects a larger…
Poland’s budget deficit is likely to come to PLN 65 billion (EUR 13.5 billion) in 2023 under a budget bill approved by the government on September 28. Piotr Mueller, the government spokesman, said that the bill had been backed by the Cabinet. It will now go to the Sejm, the lower house of the Polish…
The Polish government, at its September 26 sitting, approved the merger of Poland’s leading oil and gas company PKN Orlen with the country’s natural gas monopolist PGNiG, the government spokesperson said. In late July, the two companies agreed to a merger plan under which PGNiG shareholders would receive 0.0925 new shares in Orlen per one…
Jacek Sasin, Poland’s state assets minister and a deputy prime minister, has proposed a 50% windfall tax on power companies, which have profited from rising energy prices. Energy prices in Poland have increased rapidly owing to a combination of factors, including the Ukraine war and a boycott of Russian oil and gas. “I have suggested…
Gas group PGNiG has said that it has secured gas supplies for the entire 2022-2023 heating season and that it would utilise 100% of the Baltic Pipe’s capacity planned for this year. The war in Ukraine, the Polish boycott of Russian energy and intense international competition for carbon fuels has led to fears of an…
Poland’s unemployment rate went down to 4.8% in August from 4.9% in July, the Central Statistical Office (GUS) reported. The number of registered unemployed measured 806,900 in August against 810,200 in July, GUS also said. Earlier, the Family and Social Policy Ministry estimated August’s unemployment at 4.9%. (The First News/Business World Magazine)
Poland’s retail sales increased in real terms by 4.2% YoY and by 1% MoM in August, the Central Statistical Office said on September 21. Economists polled by PAP expected August’s retail sales to grow in real terms by 3% YoY and remain unchanged (at 1.2%) month on month. In current prices, retail sales increased by…