Loans up by 4,2%, deposits by 8.3% at end-February

The Polish Financial Supervision Authority (KNF) published data regarding banks’ loans and deposits in the first two months of this year. The total value of loans in the banking sector in Poland, including foreign units, increased by 4.2 percent y/y reaching PLN 1,017.68 billion. The value of ...

Lowering the retirement age will cost Poland PLN 10 bln next year

According to the deputy minister of finance Leszek Skiba, lowering the retirement age will cost the budget as much as PLN 10 billion, which equals 0.5 percentage point of GDP. But according to Skiba this should not affect public finances. “The current expenditure rule allows us to gradually lower th...

Four Nowoczesna MPs joins PO

Marta Golbik, Joanna Augustynowska, Michał Stasiński and Grzegorz Furgo announced that they are leaving Nowoczesna grouping and joining Civic Platform (PO). “Arguments about strategies etc, are a normal thing in every political party. The moment comes however, when you can’t be responsible and...

Polish investment funds assets grow to PLN 273 bln in March

Net assets under management (AuM) of Polish investment funds increased by 2.8 percent (PLN 7.5 billion) to PLN 273 billion in March, a report by researcher Analizy Online and asset management lobby IZFiA showed. In the same period, net inflows stood at PLN 6 billion.

Poland VAT receipts up by 40% y/y in Q1

Poland recorded an impressive 40 percent increase in VAT receipts in Q1, according to the deputy ministry. However, the pace will drop significantly for the remainder of the year and amount to 11 percent for the whole year, as predicted in the budget. VAT receipts amounted to PLN 42 billion in the f...

OECD CLI falls again in February

The Composite Leading Indicator (CLI) for Poland fell by 0.88 percent y/y, and by 0.14 percent m/m points amounting to to 99.66 points in February, according to data from the Organization for Economic Co-operation and Development (OECD). The composite leading indicator (CLI) is designed to provide e...

Polish exports to US to grow by 10% – Morawiecki

Deputy PM Mateusz Morawiecki during his visit to the US said that he sees Polish exports to the US growing even by 10 percent this year. “I’ve talked with the Secretary of Trade Wilbur Ross regarding exporting Polish poultry, apples or plane engines and car parts,” Morawiecki said, explaining ...