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Tag Archives: Polish

Polish gov’t wants to revert to 50-50 split of FX cost of mortgage conversion: PM

WARSAW: The Polish government will press to reinstate a 50-50 split of the cost of converting FX-mortgages to zloty between banks and clients as key banking legislation goes through the Senate, upper house prime Minister Ewa Kopacz said Tuesday. “That was written in our bill, and I will hold that line,” Kopacz told a briefing of the original shape of ... Read More »

Polish Unemployment rate at 10.3% in June

WARSAW: Poland’s unemployment rate stood at 10.3 percent at the end of June compared with 10.8 percent a month before, the Central Statistical Office (GUS) informed. In June 2014, the unemployment amounted to 12 percent. The number of the registered unemployed totaled 1.622 million people, lower by 78,000 than at the end of April. Read More »

Polish natural gas H1 sales increases by almost 50% YoY

WARSAW: Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) announced its estimated Q2 results, ISBNews reported. In Q2, the company sold 4.67 billion cbm of natural gas, in comparison with 3.35 billion cbm in Q2 2014. In H1 the sales amounted to 12.35 billion cbm, while in the corresponding period of 2014, PGNiG sold 8.25 billion cbm. Simultaneously. Read More »

Polish natural gas H1 sales increases by almost 50% y/y

WARSAW: Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) announced its estimated Q2 results, ISBNews reported. In Q2, the company sold 4.67 billion cbm of natural gas, in comparison with 3.35 billion cbm in Q2 2014. In H1 the sales amounted to 12.35 billion cbm, while in the corresponding period of 2014, PGNiG sold 8.25 billion cbm. Simultaneously. Read More »

Polish HICP stands at -0.6% YoY in June: Eurostat

WARSAW: The harmonized index of consumer prices (HICP) for Poland stood at -0.6 percent year-on-year in June, the same level as it was in May, according to data released by the EU’s statistics office Eurostat. In month-on-month terms, prices increased by 0.1 percent. Throughout the EU prices grew by 0.1 percent on a yearly basis. CPI inflation stood at -0.8 ... Read More »

Polish Consumer prices in Poland fall 0.8% in July

WARSAW: Consumer prices in Poland fell 0.8% in June year on year, in line with what analysts expected, the country’s Central Statistical Office (GUS) said Wednesday. Prices fell 0.9% year on year in May. Month on month, June consumer prices stayed flat versus expectations for a 0.1% m/m increase. Read More »

Polish budget deficit at PLN 26.14b after June

WARSAW: The budget deficit amounted to PLN 26.14 billion at the end of June 2015. It stood at 56.7 percent of this year’s budget deficit plan, the Ministry of Finance announced. By the end of June budget revenues amounted to PLN 137.14 billion, or 46.1 percent of the annual plan. Budget expenditures stood at PLN 163.1. Read More »

Polish budget deficit at PLN 26.14b after June

WARSAW: The budget deficit amounted to PLN 26.14 billion at the end of June 2015. It stood at 56.7 percent of this year’s budget deficit plan, the Ministry of Finance announced. By the end of June budget revenues amounted to PLN 137.14 billion, or 46.1 percent of the annual plan. Budget expenditures stood at PLN 163.1. Read More »

Polish ÁKK sells HUF 35 bln of three-month bills

WARSAW: The Government Debt Management Agency (ÁKK) sold HUF 35 bln of discount three-month T-bills at auction today, in line with the original offer. Primary dealers bid for HUF 56 bln of the papers. Average yield was 0.95%, 4 bp under the secondary market benchmark and 2 bp lower than the yield at the previous auction of the papers one ... Read More »

Polish T- bonds may face hard time in future

WARSAW: Poland is still treated as an emerging market, which means that in times of turmoil in Greece and the prospect of interest rate hikes in the United States, capital is flowing out of the country to markets considered safer, experts say. Moreover, due to the lack of OFE pension funds on the FI market, Poland is more reliant on ... Read More »

Polish Inflation remains at -0.9% in May 2015

WARSAW: Poland’s inflation rate stood at -0.9 percent in May, compared with May 2014, the Central Statistical Office (GUS) reported. On a monthly basis, the prices in Poland have not changed. Experts surveyed by Polish Press Agency (PAP) expected the rate to stand at -0.7 percent year-on-year and totaled 0.2 percent month-on-month. Read More »

Polish pharmaceutical market exceeds to PLN 30b in 2015

WARSAW: Poland’s pharmaceutical market is expected to exceed PLN 30 billion in retail sales in 2015 after reaching PLN 28.5 billion in 2014, researcher PharmaExpert said. Sales in January-April period were up by over 8% year on year. In 2016 the market will continue to grow although at a slower pace than expected in 2015, experts say. Read More »

Polish railway construction market to exceed PLN 6b in 2015

WARSAW: Poland’s railway construction market will grow to some PLN 6.2 billion in 2015 from PLN 5.3 billion in 2014, while the value of production in the following year will likely decline, according to researcher PMR. “As a result of slow launching of investments from the new EU budget, declines in this segment of construction are highly likely in 2016,” ... Read More »

Polish railway construction market to exceed PLN 6b in 2015

WARSAW: Poland’s railway construction market will grow to some PLN 6.2 billion in 2015 from PLN 5.3 billion in 2014, while the value of production in the following year will likely decline, according to researcher PMR. “As a result of slow launching of investments from the new EU budget, declines in this segment of construction are highly likely in 2016,” ... Read More »

Polish PKP Cargo sets eye on Unipetrol for PLN 300m

WARSAW: Poland’s PKP Cargo, the EU’s second-biggest rail cargo operator, is mulling purchasing Unipetrol Dobrava, the freight unit of Czech oil refiner Unipetrol for PLN 300 million, Parkiet daily reported. The transaction could be worth around 2 billion Czech crowns (over PLN 300 million), the newspaper informed. “We are in talks with several companies on potential takeovers, both locally and ... Read More »

Polish firms Venture abroad may grow by 1/3rd in 2020

WARSAW:  Poland’s exports will have grown by more than a third by 2020, and Polish entrepreneurs will be more boldly entering new, previously unexplored markets, according to experts from audit and advisory firm Grant Thornton. Economic expansion abroad is one of Poland’s greatest achievements since communism fell in this country in 1989, said Grant Thornton in its Foreign Expansion of ... Read More »

Polish firms Venture abroad may grow by 1/3rd in 2020

WARSAW:  Poland’s exports will have grown by more than a third by 2020, and Polish entrepreneurs will be more boldly entering new, previously unexplored markets, according to experts from audit and advisory firm Grant Thornton. Economic expansion abroad is one of Poland’s greatest achievements since communism fell in this country in 1989, said Grant Thornton in its Foreign Expansion of ... Read More »

Polish Banks mortgage recovery increase by 6.3% in April 2015

WARSAW: Demand for mortgage loans in the Polish banking sector increased in May by 6.3% year on year, while demand for consumer loans rose by 9.0% y/y, Poland’s credit information bureau BIK said. The BIK index reflects a y/y change in the value of loans concerning which banks and savings & loan institutions (SKOK) approach BIK with enquiries. Read More »

Polish monetary policy council leaves interest rates record low in Q2 of 2015

WARSAW: Poland’s Monetary Policy Council held interest rates flat for the third month in a row after economic growth beat forecasts and deflation eased. The decision, announced in a statement from the central bank NBP on Tuesday, kept the key reference rate at 1.5%, the deposit rate at 0.5% and the Lombard rate at 2.5%, all record lows set in ... Read More »

Polish GDP growth to continue upward at 3.7% in 2016

WARSAW: Poland’s economic growth will likely accelerate to 3.7% year on year in 2016 from 3.5% expected in 2015, OECD’s June forecasts showed. Polish growth will be mainly driven by private consumption. “The labor market situation will continue to improve, while exports will benefit from improvement in international trade and faster growth in the euro zone,” the report reads. Consumer ... Read More »