Polish industrial production up 7.4% y/y in October: stats office

Industrial production in Poland grew 7.4 percent in October compared with the same month last year, the country’s Central Statistical Office (GUS) said on Tuesday. Industrial production last month was 9.9 percent higher than in September, the statistical office reported. Meanwhile, output in the construction-and-assembly sector shot up by 22.4 percent in

Wages, employment up y/y in Poland in October: stats office

Average wages in Poland rose 7.6 percent in October compared with the same month last year, the country’s Central Statistical Office said on Monday. The average Polish monthly wage in October was PLN 4,921.39 (EUR 1,139, USD 1,300), the office reported. Meanwhile, employment in Polish companies increased 3.2 percent last month in

Polish president hands out business awards

President Andrzej Duda has handed out his annual awards to outstanding Polish businesses. Presenting the Presidential Business Awards at a major economic forum in the southeast of the country, Duda said the winners were examples to follow for others and testimony to a great Polish business tradition. The awards were presented in

New acting head for Polish financial regulator

Capital and insurance market expert Marcin Pachucki will take over as the new acting head of Poland’s financial regulator, officials have announced. Pachucki replaces Marek Chrzanowski, who tendered his resignation as head of the Financial Supervision Authority (KNF) on Tuesday amid claims that he attempted to solicit a bribe from a

Fewer Poles consider migrating for work: report

Less than nine percent of Poles are considering migrating for work within the next year, down from 14 percent this time last year, a daily reported, citing recruitment agency Work Service. This year’s rate is the lowest since research began four years ago, the Rzeczpospolita daily reported. According to a report from

Polish financial regulator denies corruption; PM demands answers

Poland's prime minister on Tuesday demanded an urgent explanation after a report alleged that the head of the financial market regulator had asked one of the country’s richest men for a bribe. Prime Minister Mateusz Morawiecki has summoned Marek Chrzanowski, the head of Poland’s Financial Supervision Authority (KNF), to a meeting

US energy secretary visits Polish LNG terminal

US Energy Secretary Rick Perry is to visit Poland's LNG terminal in the northwestern town of Świnoujście on Friday for talks about the planned Baltic Pipe project. Perry is set to meet Piotr Naimski, a Polish government representative on strategic industrial infrastructure, and Paweł Jakubowski, CEO of the Polskie LNG company,

Poland leaves interest rates unchanged

The Polish central bank's Monetary Policy Council on Wednesday left interest rates intact. The reference rate remains at 1.5 percent. The last time the rate-setting Monetary Policy Council changed interest rates was in March 2015. At the time, after trimming rates by 50 basis points, the council said the move was “closing a

German companies blackmailing Polish farmers?

German companies have started to blackmail Polish apple producers, Poland's agriculture minister has said, according to a report in the Do Rzeczy weekly. According to the weekly, dozens of small apple producers applied to have the government buy up their surplus produce for juicing after this year produced an over supply

Polish gov’t working to overhaul income tax system: official

Poland’s government has begun work to overhaul the country’s income tax system, an official said on Wednesday. The aim is to make income taxes simpler and more transparent, Deputy Finance Minister Filip Świtała told public broadcaster Polish Radio’s IAR news agency. The new system will have separate regulations for taxpayers who derive