Locked content Budget deficit at PLN 25.3 bln after May

Poland’s budget deficit amounted to PLN 25.3 billion after May, according to revised data from the Ministry of Finance quoted by ISBnews. It stood for 53.3 percent of the annual plan. The ministry had earlier estimated that the May budget deficit was PLN 25.36 billion. Budget revenue amounted to PLN...
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PMI drops below neutral level

For the first time in 13 months, the Poland Manufacturing PMI signaled a deterioration of business conditions in July. The index, compiled by HSBC and Markit Economics, declined to 49.4 points compared to 50.3 points in June.

Locked content No more bond issues for this year’s borrowing needs

Poland’s Ministry of Finance has completed the market financing of the country’s borrowing needs for 2014, according to a statement quoted by ISBnews. After the summer vacation, the ministry will obtain new tranches of loans from international financial institutions in order to formally close the bo...

Locked content Individuals expect inflation at 0.1%

In mid-July private individuals in Poland expected inflation to be at 0.1 percent within a year’s time, the National Bank of Poland said on Thursday. The figure is the lowest in the history of the survey. The NBP calculated the data based on a survey carried out by statistics office GUS. At the time...

Locked content EC’s indicator for Poland inches down in July

The Economic Sentiment Indicator (ESI) for Poland calculated by the European Commission inched down by 0.9 points to 97.8 in July, the EC said on Wednesday. In industry, the sector ESI inched up by 0.9 points to -11.5 in July. In services, it declined from 1.4 to 0.9 points. In retail trade the indi...

Locked content Unemployment to fall to 11%

The registered unemployment rate in Poland will decline to nearly 11 percent in July-September, Deputy Labor Minister Jacek Męcina told radio station TOK FM. It will then grow seasonally. Sectors such as tourism, restaurants, horticulture and agriculture are important to the Polish labor market, Męc...

Locked content Exports to Russia down by 7.7% y/y

Poland’s exports to Russia declined by 7.7 percent year-on-year to USD 5 billion in the first half of 2014, Deputy Prime Minister and Economy Minister Janusz Piechociński said, quoting preliminary data from the ministry. In January-May 2014 exports to Russia had dropped by about 6.7 percent y/y. Dat...

Locked content PKO BP sees GDP growing by 4.5% in 2015

Economists from Poland’s largest bank PKO BP expects the country’s GDP to grow by 3.4 percent in 2014 and by 4.5 percent in 2015, chief economist Radosław Bodys was quoted as saying by ISBnews. Improved individual consumption, a new wave of infrastructure investments and the inflow of EU funds will ...

Locked content Szczurek: Poland will phase out IMF credit line

Poland plans to gradually eliminate it flexible credit line from the International Monetary Fund, Finance Minister Mateusz Szczurek told Bloomberg in an interview. “We’ll slowly pull out of the FCL, which we currently treat as a substitute for foreign-exchange reserves,” Szczurek said. “It’s a cheap...

Locked content General government deficit at 0.9% of GDP

Poland’s general government deficit, calculated according to ESA’10 methodology, amounted to PLN 3.5 billion after Q1 2014, the Ministry of Finance said on Monday. It accounted for 0.9 percent of Poland’s GDP. If transfers from private pension funds were included in the balance, there would be a sur...