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GDP to grow 4.0% in 2017, could slow down after that – World Bank

The World Bank has increased its GDP forecasts for Poland to 4.0 percent in 2017, 3.6 percent in 2018 and 3.4 percent in 2019. Earlier estimates stood at 3.3 percent this year and 3.2 percent in 2018 and 2019. “In 2017, Poland’s economic growth will accelerate to 4.0 percent from 2.7 percent recorde...
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56% of Poles prefer cashless payments

Over a half of Poles (56 percent) prefer to pay without using cash, and consider payment card and smartphone as the most convenient methods of payment, according to a study conducted for eService. Only 31 percent of those polled prefer cash to cashless payments. The preferred methods of payment are ...

Locked content Budget deficit at 2.1% in 2017 – World Bank

Poland’s budget deficit will amount to 2.1 percent of GDP in 2017, and then it will grow to 2.6 percent in 2018 and 2.7 percent in 2019, according to forecasts prepared by the World Bank. “All forward indicators for Poland’s economy are strong, there is clear stimulation from private consumption,” s...

Locked content PKN Orlen with PLN 1.6 bln profit in Q3

Oil giant PKN Orlen recorded net profit of PLN 1.6 billion in Q3 2017, an increase over PLN 1.5 billion recorded in Q3 2016, but below market consensus of PLN 1.96 billion. For the first three quarters of the year, net profits stood at PLN 5.539 billion and were PLN 1.842 billion higher than in̷...

Locked content Welfare indicator down in October, due to food prices growth – BIEC

The welfare indicator, which reflects the economic standing of the Polish society, has decreased in October by 0.4 points compared to the September reading, marking the first drop in six months, the Bureau for Investment and Economic Cycles (BIEC) stated. “The current drop in the Welfare Indicator i...

Locked content Super-Pharm launches transcational marketing project with ZenCard

Drug store chain Super-Pharm has launched a new transactional marketing project in collaboration with ZenCard, a fintech subsidiary of PKO Bank Polski. The pilot program will allow Super-Pharm’s clients to become members of the drug store’s loyalty program Klub LifeStyle, while paying for their shop...

Locked content Grupa Azoty buys PLN 94 mln worth of shares in PDH Polska

Chemicals giant Grupa Azoty will acquire 9.4 million shares of D-series nominate shares of PDH Polska, valued in total at PLN 94 million, the company stated. The shares will be acquired through private subscription. The issue will increase PDH Polska’s share capital. PLN 23.5 million will be paid by...

Locked content Industrial production prices up 3.1% y/y in September

Industrial production prices increased in September by 3.1 percent y/y and by 0.4 percent in monthly terms, GUS stated. Economists polled by PAP saw the prices increase by 3.1 percent y/y and by 0.3 percent m/m. In August, industrial production prices grew by 3 percent y/y and by 0.4 percent m/mR...

Locked content Industrial output increases by 4.3% y/y in September

Industrial output grew by 4.3 percent year-on-year in September, by 6.0 percent month-on-month, statistics office GUS said in a statement. Analysts polled by PAP expected industrial output to increase by 5.4 percent y/y and by 7.2 percent m/m. After eliminating seasonal factors, industrial productio...

Locked content Retail sales grew 8.6% y/y – GUS

Retail sales increased by 8.6 percent y/y in September and fell by 0.3 percent m/m, GUS stated. Analysts polled by PAP saw retail sales increase by 7.6 percent y/y and drop by 1.1 percent m/m.  In basic prices, retail sales increased by 7.5 percent y/y….