Finance Minister Mateusz Szczurek
Image : Ministry of Finance

Poland still needs to prepare before euro adoption – FinMin

Poland needs to work on improving its competitiveness before joining the euro zone to make sure it benefits from the adoption of the common currency, Finance Minister Mateusz Szczurek told web portal wnp.pl. When asked if Poland should enter the euro zone, Szczurek said that it should, “but only whe...

Locked content Automotive industry sees exports growth

Between January and May of this year, exports of the Polish automotive industry increased by €500,000 (0.8 percent) year-on-year and amounted to €7.8 billion, according to a report by AutomotiveSuppliers. In May 2014, the value of Polish industry exports stood at nearly €1.6 billion, 1.36 percent mo...

Locked content RPP members support further interest rate cuts

Some members of Poland’s Monetary Policy Council (RPP) were in favor of further cuts in interest rates, in order to counteract the negative impact of low inflation figures, according to official minutes of the latest RPP sitting. “A few Council members pointed out that interest rate decrease could b...

Locked content Fewer Poles against introducing euro

The percentage of Poles against introducing the euro as the national currency decreased in August by 6 percentage points month-on-month. Now it amounts to almost 74 percent, according to a poll conducted by GfK Polonia. At the same time, the percentage of Poles being in favor of the new currency inc...

Locked content State Treasury debt up 0.8% in June

State Treasury debt increased by 0.8 percent m/m and in June amounted to PLN 750.21 billion, Poland’s Ministry of Finance informed. Compared to the end of 2013, the debt calculated in the złoty decreased by 10.5 percent. The debt increase was caused by changes in currency exchange rates (PLN 1.1 bil...

Locked content Złoty in a stable postion

The Russia-Ukraine conflict have already started to influence fluctuations of the European currencies.  The złoty, however, is not predicted to lose its current value any more, conversely to the currencies of the countries from Central Europe like forint or Czech koruna. Michał Stajniak, DM X-Trade ...

Locked content Prosperity index inches up in August

The prosperity index calculated by the Bureau for Investments and Economic Cycles (BIEC) inched up by 0.2 points month-on-month to 97.9 in August, the Polish Press Agency reports. The decline was only slight compared to changes in the indicator recorded in early 2014,” BIEC said, “and last months’ t...
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Salaries up by 3.5% y/y in July

The average monthly salary in the Polish corporate sector grew by 3.5 percent year-on-year to PLN 3964.91 in July, the Central Statistical Office (GUS) said on Tuesday. In month-on-month terms it rose by 0.6 percent.

Locked content Minister of Economy: Bigger threats from the West

Janusz Piechociński, the Polish minister of economy, opines that in his predictions, this year’s GDP is going to increase by 3 percent. As he suggests, a bigger threat to the growth comes from the economic downturn on the West then from the Eastern crisis. “The GDP slack in Q2 from 3.4 p...

Locked content Budget deficit at PLN 26.35 bln

Poland’s budget deficit amounted to PLN 26.35 billion as of the end of July, according to data from the Ministry of Finance quoted by ISBnews. It stood for 55.5 percent of the annual plan. After June, the budget deficit had been at PLN 25.3 billion or 53.3 percent of the full-year plan. In January-J...