The Sejm adopted the budget for 2018. “In 2018 we will make a breakthrough on the tax side and thanks to that, the planned deficit is the lowest in 28 years. At the same time, we secured funds for the entire social policy, internal and external security,” said PM Mateusz Morawiecki.
To a surprise of no one, the Monetary Policy Council (RPP) has decided to keep interest rates unchanged.
Ratings agency S&P raised its GDP forecast for Poland to over 4 percent for this year. “We expect that in 2018 real GDP growth in Poland will easily exceed 4 percent, as in our opinion the economy of the country is in an overheat mode,” the report said.
The volume of seasonally adjusted retail trade in Poland grew by 7.6 percent year-on-year in November, according to a data release from the EU’s statistics office Eurostat. In month-on-month terms, it increased by 1.6 percent.
The registered unemployment rate amounted to 6.6 percent in December, compared to 6.5 percent last month, and 1.6 percentage points lower y/y, based on estimates from job centers, the Ministry of Family, Labor and Social Policy announced.
Poland’s Central Bank’s (NBP) reserves stood at €94.64 billion at end-December and were some €1.28 billion lower than last month, according to the NBP’s official reserve data. Reserves denominated in USD have decreased by $99 million to $113.27 billion.
Social Insurance Board (ZUS) transferred PLN 6.02 million to the open pension funds (OFE) this week. This was first such transfer this year.
According to the Ministry of Labor, some 424k pension application applications have been filed in September to the Social Security fund (ZUS), resulting from lowering the retirement age which came into force in October last year. “The impact of the lower retirement age was not as strong as initially...
Poland’s inflation rate stood at 2 percent in December in year-on-year terms, the Central Statistical Office (GUS) said in a flash estimate.
The number of bankruptcies and restructurings in 2017 amounted to 885, which is 16 percent more than last year, according to a report by Coface.