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Nearly half of Polish firms see Ukraine war as business threat

As many as 42 percent of Polish companies have said the ongoing Russia-Ukraine war can threaten their business, a survey has shown.

The Polish Economic Institute (PIE) wrote in a survey published on Thursday that “among companies with serious concerns about their business owing to the ongoing war, uneasiness about the future economic situation is particularly stressful.”

The intensity of concerns depends on the sector, with services and construction companies being the most worried (92 percent).

According to PIE, rising energy costs are a cause of distress for manufacturing companies (88 percent), but also for trade and services firms (83 percent).

Construction companies are also worried about supply chains (63 percent) while trade and transport firms feel uncertainty over payment delays (64 percent).

Russia invaded Ukraine on February 24 and the bloody conflict which ensued has forced around a quarter of the country to leave their homes. Over four million Ukrainians have left the country.

Poland shares a border with Ukraine and the two countries have a long-standing trade history.

In 2020, the last available data provided by the Observatory of Economic Complexity (OEC), exports from Poland to Ukraine amounted to USD 5.68 bn, while Ukraine exported USD $3.26 bn to Poland.

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