Locked content President signs PPK law

President Andrzej Duda signed the bill introducing employer-sponsored pension plans PPK into law. The new program seeks to have firms and employees put a total of 3.5 percent of gross wages into privately managed Employee Pension Plans (PPK) – 1.5 percent from the employer and 2 percent from the emp...

Locked content Regulators assure investors that Polish financial system is stable

Financial Stability Committee KSF said on Monday the Polish financial system is stable after the Financial Supervision Authority KNF head Marek Chrzanowski resigned last week amid a corruption scandal. KSF which consists of Central Bank NBP, KNF, the Ministry of Finance, and the Bank Guarantee Fund ...

Locked content Electricity prices to go up by 30% next year? – DGP

According to Dziennik Gazeta Prawna daily, energy distributors are asking energy market regulator URE, which has to approve any price changes for end-users, to allow them to raise the energy prices even by 30 percent next year. The biggest hikes are being asked by companies that sell more electricit...

Locked content LC Corp plans to change its name

WSE-listed real estate developer LC Corp plans to change the company’s name in order to distance itself from its former owner Leszek Czarnecki. “The decision comes amid numerous press reports identifying LC Corp as an entity in Czarnecki’s financial group, which has an impact on the comp...

Locked content Petru launches new party

Ryszard Petru, a former leader of Nowoczesna has set up his new political party – Teraz! (Now!). “Economy and society will be the two pillars of our grouping,” Petru said at the press conference adding that the first party convention will be held on December 9. He was joined by another former Nowocz...

Wages and employment grow in October– GUS

According to data released by the Polish Central Statistical Office (GUS), the average employment in companies in October grew by 3.2 percent year-on-year, while the wages grew by 7.6 percent y/y. In month-to-month terms, employment remained unchanged, while salaries increased by 3.1 percent. The av...

Locked content The number of Poles living abroad inches up in 2017 – GUS

At the end of 2017, there were 2.5 million Poles living abroad, which is 1 percent y/y growth, according to data from Central Statistics Office GUS. The majority of Poles in immigration live in Europe, 2.2 million, out of which 2.1 million lives in another EU member state. Among them, the largest nu...

Apartment prices up 6.4% y/y in Q3 – GUS

Apartment prices increased 6.4 percent y/y and 3 percent q/q in Q3 according to data released by Central Statistics Office GUS. The average transactional price was PLN 7,324 per square meter. The data covers 6 biggest markets: Warsaw, Kraków, Poznań, Łódź, Wrocław, and Tri-City.

Residential sector on the rise – GUS

At end-October, the number of dwellings on which construction has started increased by 9.5 percent y/y to 194k, according to data released by the Central Statistics Office (GUS). Out of that number, 112.6k houses are being built by developers and 77k by individual investors.

Locked content PKP Intercity with PLN 2 bln CAPEX for 2018

State-controlled railway operator PKP Intercity has signed or extended deals for the purchase or modernization of rolling stock worth PLN 2.05 billion this year. Out of that amount, PLN 1.7 billion will be spent on new wagons. “PKP Intercity is consistently implementing the largest investment progra...