RPP member: rates should be hiked as soon as Q1 2018

According to Eugeniusz Gatnar from the Monetary Policy Council (RPP) interest rates should be increased early next year to offset rising inflationary and wage pressures. “If wage pressures rise in line with my expectations and inflation comes near the target then I would expect interest rates to be ...

Treasury debt inches down in July

The debt of the State Treasury of Poland dropped in July by PLN 5.76 billion (0.6 percent decrease m/m), to PLN 939.93 billion, the Ministry of Finance said. Moreover, according to preliminary data, the debt at end-August dropped by another 0.4 percent (PLN 3.4 billion)

Tax revenues up by 15.5% at end-Augist – FinMin

During the first eight months of the year, Polish treasury received PLN 208.89 billion in tax revenue, up by 15.5 percent y/y. This amount represents 69.4 percent of the annual plan, the finance ministry informed. The revenue from VAT increased by 23.5 percent y/y, while the CIT and PIT taxes revenu...

Retail sales grow 7.6% in August– GUS

Retail sales increased in August by 7.6 percent year-on-year and 1.2 percent m/m, according to GUS. Market consensus prepared by the Polish Press Agency (PAP), saw the sales increase by 6.8 percent y/y and 0.6 percent m/m.

HICP inflation at 1.4% in August– Eurostat

The harmonized index of consumer prices for Poland stood at 1.4 percent year-on-year in August, the same as in July, according to data released by the EU’s statistics office Eurostat. In month-on-month terms, prices increased by 0.2 percent.

EU subsidies reach PLN 127.8 bln

The value of EU subsidy applications submitted by September 17 amounted to PLN 249.7 billion, according to data released by the Ministry of Development. Till mid-September, 22,475 contracts for the EU co-financed projects amounted to PLN 127.8 billion in EU subsidies.

Employment and wages growth continues in August – GUS

According to data released by the Polish Central Statistical Office (GUS), the average employment in August grew by 4.6 percent year-on-year, while the wages grew by 6.6 percent. In month-to-month terms, wages inched down by 0.2 percent, while the employment increased by 0.1 percent.

Czarnecki sets LC Corp sale price at PLN 2.1 apiece

Majority shareholder of the WSE-listed real estate developer LC Corp, Leszek Czarnecki, along with controlled by him consortium including Getin Noble Bank, Open Finance, and Open Life TU Życie set the sale price of its 51.17 percent stake in LC Corp at PLN 2.1 per share. This puts the value of the t...