PM wants investigation of MNE tax law delay

Poland’s new prime minister Ewa Kopacz has called for an investigation of organs responsible for the delay in publication of the new tax law concerning multinational enterprises. The law was to establish controlled foreign company (CFC) provisions which are to go into effect by 2016 and to set...

Locked content IMF ups Poland’s GDP growth forecast for 2014

The International Monetary Fund expects Poland’s GDP to grow by 3.2 percent in 2014, according to the latest edition of its World Economic Outlook. In the April edition of the report, the forecast was at 3.1 percent. In 2015 Poland’s GDP should grow by 3.3 percent, the IMF said. The country’s averag...

Locked content Central bank’s reserve assets at €80.3 bln

As of the end of September 2014, the National Bank of Poland’s official reserve assets stood at €80.3 billion, €2.9 billion higher than at the end of August, the NBP said. When calculated in US dollars, the reserve assets were $101.7 billion compared to $102 billion at end-August. The NBP invests fo...

Locked content Unemployment high across Europe – EC report

Almost 13 million people in Europe have been unemployed for more than one year, according to a report issued by the European Commission on Monday evening. “Moreover, one in three unemployed people have spent more than two years without a job,” the EC’s statement said. Despite that, employment is gro...

Locked content European Commission: SMEs still struggling

In a recent European Commission release, the path of small and medium enterprises to recovery shows some promise, but is still lacking the employment levels pre-2008. Although value added in 2013 was strong in some countries, employment in SMEs was still 1.9 million employees and 2.16 percent below ...

Locked content Retail sales up by 1.3% – Eurostat

The volume of retail trade in Poland grew by 1.3 percent year-on-year in August, according to a data release from the EU’s statistics office Eurostat. In month-on-month terms the growth was 2.2 percent. Throughout the EU retail trade grew by 2.5 percent y/y and by 1.4 percent m/m. In the euro area i...

Locked content Ministry hikes trade deficit forecast

Poland’s Economy Ministry has corrected its forecast of Poland’s foreign trade deficit this year to €1.3 billion, according to a report quoted by the Polish Press Agency. It earlier expected the deficit to be €600 million. Exports are estimated to reach €164.3 billion at the end of 2014, compared to...

Locked content End-August budget deficit at PLN 24.6 bln

As of the end of August, Poland’s budget deficit amounted to PLN 24.60 billion or 51.8 percent of the full-year plan, according to final data from the Ministry of Finance quoted by ISBnews. The ministry had earlier estimated the August budget deficit to be PLN 24.64 billion. The original budget plan...

Locked content Poland’s rating one of the most stable – Moody’s

Poland has one of the most stable ratings covered by Moody’s, Dietnar Hornung from the ratings agency’s sovereign rating department was quoted as saying by the Polish Press Agency. “Poland has a very stable rating and this is reflected in its outlook,” Hornung said. Moody’s has rated Poland at A2 si...