Ukrainians in Poland will not take jobs away from Poles and could be a welcome addition to the domestic labour market, the family and social policy minister has said. Marlena Malag said Ukrainians were not a threat to the Polish labour market and could actually help stabilise the economy. She noted that around 300,000 Ukrainians,…
The Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, increased the reference interest rate by 50 basis points, to 6.50% on July 7. The National Bank of Poland’s lombard rate was raised from 6.50% to 7.00%, the rediscount rate from 6.05% to 6.55% and the discount rate from 6.10% to 6.60%. At the…
Daikin, a Japanese heat pump and air conditioning company, will build a facility in Ksawerow, central Poland, for EUR 300 million. Mateusz Morawiecki, the Polish prime minister, attended an inauguration ceremony of Daikin’s investment on July 7. The Japanese conglomerate’s first Polish facility will be operational in July 2024. “We want Poland to be a…
As many as 94% of Polish companies have felt the negative effects of Russia’s war in Ukraine, a government think-tank has reported. According to a research carried out by the Polish Economic Institute (PIE), on July 1, 94% of Polish companies felt a “stronger or weaker” impact of the war in Ukraine on at least…
Poland’s estimated unemployment rate in June stood at 4.9% against 5.1% in May, a deputy family and social policy minister said on July 6. “We have one of the lowest unemployment rates in Europe, at 4.9%,” Stanislaw Szwed said. Economists polled by PAP expected the unemployment rate to drop to 5%. Close to 819,700 unemployed…
Polish retail sales grew by 11.2% YoY in May after a 21.1% increase in April, Eurostat, the EU’s statistics agency, reported on July 6. Month on month, retail sales went down by 0.8%, the agency also said. Eurostat annual growth figures are work-day adjusted, while the monthly growth figures are also seasonally adjusted. Eurostat data…
Inflation and high prices are currently the most important challenges facing the Polish government, its spokesperson has admitted. Piotr Mueller said that “these problems are primarily caused by the situation on the energy market and, to a lesser extent, on the food market”. He also added that it was difficult to predict when inflation would…