23rd Book of Lists Gala

The 23rd annual Book of Lists Gala welcomed 180 guests – top-level executives across all industries. Like each year, the gala focused on major players operating in various sectors in Poland and awarded them with distinctions for their successes.

Unemployment falls to 3.4% in August – Eurostat

The seasonally adjusted unemployment rate in Poland was 3.4 percent in August compared to 3.5 percent in July, the EU statistical office Eurostat reported. The number of unemployed people decreased to 585,000 in July from 600,000 a month earlier. In the entire EU, unemployment stood at 6.8 percent.

Elon Musk agrees to resign as Tesla’s Chairman

Tesla’s CEO Elon Musk agreed to step down as the automaker’s Chairman in a settlement with the US Securities and Exchange Commission (SEC). Musk needs to pay a $20 million fine. However, he is still allowed to remain in the position of Tesla’s CEO. Musk doesn’t have to admit or den...

Locked content Czerwińska sees 2018 budget deficit at PLN 25 bln

The budget deficit for this year will be approximately 60 percent of the planned PLN 41.5 billion, Minister of Finance Teresa Czerwińska said to Interia.pl. This would amount to about PLN 25 billion. In the draft budget for this year, the government assumed GDP growth of 3.8 percent, however, after ...

Consumer spending will grow on average by 3% y/y in 5 years

Consumer spending is systematically growing: an average increase of 3 percent y/y is expected in the next five years. Over the next 12 years, the market should grow at the same or even faster pace and retail sales will become more interactive, both offline and online, according to CBRE report.

KUKE sees export growth at 7-7.5% in 2018

The Export Credit Insurance Corporation (KUKE) targets the growth of export from Poland at 7-7.5 percent in 2018. This would be a lower growth slowdown than estimated previously. In March KUKE forecasted export growth at 6-7 percent for this year.

WSE moves to FTSE Developed All Cap Index

The Warsaw Stock Exchange leaves the FTSE Emerging All Cap Index and joins the FTSE Developed All Cap Index as of Monday, September 24.  Reclassification as a Developed market has resulted from continuous improvements in Poland’s capital markets infrastructure, supported by the country’s...

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...