Leszek Balcerowicz

How much does Poland owe and does it really matter?

The Polish government puts the country’s public debt at roughly 53 percent of GDP. But Leszek Balcerowicz, the man considered the chief architect of Poland’s economic transformation, says it is in fact several times higher than that, writes Remi Adekoya.

KUKE: Bankruptcies down 35% y/y in December

In December 2013 the number of companies that went bankrupt in Poland fell by 16.1 percent month-on-month and by 35 percent year-on-year and stood at 52, according to data from the Export Credit Insurance Corporation (KUKE). The construction sector remains most affected with a bankruptcy rate of 3.4...

OECD’s indicator for Poland inches up again

The Composite Leading Indicator (CLI) for Poland amounted to 101.08 points in November 2013, compared to a revised level of 101.07 in October, the Organisation for Economic Co-operation and Development (OECD) said. The CLI grew by 0.01 percent month-on-month and by 1.46 percent year-on-year. A conti...

Foreign trade deficit at €1.63 billion in Jan-Nov

Poland’s foreign trade deficit amounted to €1.63 billion ($2.16 billion) in January-November 2013, statistics office GUS said on Tuesday. When calculated in złoty, the deficit was PLN 6.75 billion. Exports amounted to €141.05 billion ($187.31 billion, PLN 589.51 billion), while imports stood at €142...

Money stock grows by 2.5 percent in December

The volume of money supply (M3) grew by 2.5 percent month-on-month in December and stood at PLN 977.3 billion, according to preliminary data on money stock published by the National Bank of Poland on Tuesday. The volume of cash in circulation grew by 0.6 percent m/m and stood at PLN 114.4 billion. T...

Locked content World Bank: Poland’s GDP to grow by 2.8% in 2014

The World Bank expects Poland’s GDP to grow by 2.8 percent year-on-year in 2014, according to a recent report from the institution. In 2015 Poland’s economic growth is expected to accelerate to 3.3 percent and in 2016 it should reach 4 percent, the World Bank said. The institution expects growth wor...

Inflation remains low in December

In December 2013 CPI inflation amounted to 0.7 percent year-on-year and 0.1 percent month-on-month, statistics office GUS said on Wednesday. Both figures were in line with the consensus of expectations from economists surveyed by the Polish Press Agency. The biggest reduction was observed in the com...

PKN Orlen cashes in on Lukoil deal

Poland’s largest fuel holding, PKN Orlen signed a contract with fuel retail Lukoil Polska worth PLN 1.55 billion, the company said in a statement on Friday.

Cineworld acquires Cinema City

Warsaw Stock Exchange-listed Cinema City International signed a preliminary agreement to sell its movie theater business to UK sector firm Cineworld Group, the company said in a statement on Friday.