Basic agricultural product prices up 2% y/y in Aug.

Last month prices for basic agricultural products, i.e. wheat, rye, beef, pork, poultry, and milk grew by 2.9 percent compared to July and by 2 percent y/y, Polish Central Statistical Office (GUS) reported. In August the purchase prices of most agricultural products rose on the monthly basis, with t...

Moody’s raises Poland’s GDP forecast for 2018-19

Moody’s credit rating agency upgraded 2018 GDP outlook for Poland to 5.0 percent from 4.3 percent expected earlier. For 2019 the agency raised GDP outlook to 4.2 percent from 4 percent. Moody’s estimated that in 2018 Polish economy would reach the peak of activity in the current cycle. In the ...

Ukraine will receive €1 bln loan from EU

The European Commission (EC) signed a Memorandum of Understanding with Ukraine for financial assistance. Ukraine will receive up to €1 billion in the form of medium- and long-term loans. The proposed new Macro-Financial Assistance (MFA) complements three previous MFA programmes, through which the EU...

EU court rejects Russian firms’ request to repeal sanctions

The European Court of Justice dismissed an appeal to cancel EU sanctions filed by Russian companies including Gazprom Neft and Rosneft as well as several Russian bankson Thursday. The court resolution confirmed that sanctions were applied correctly. The judges underscored that the purpose of sanctio...

PKO BP launches motor insurance offer

PKO Bank Polski has commenced the sale of motor insurance in 400 bank branches, and from October it will be available in all branches. In the first quarter of 2019, the bank will make the purchase of insurance available in the IKO mobile application and the iPKO transaction service.

Government accepts project to raise minimum wage to PLN 2,250

The Council of Ministers has adopted a regulation on the minimum wage and minimum hourly rate for 2019, under which the minimum remuneration for work will amount to PLN 2,250 (in 2018 it is PLN 2,100, which means an increase of 7.1 percent), the Government Information Center (CIR) reported.