The NBP interest rates remain unchanged
During its meeting on November 7-8, 2023, the Monetary Policy Council decided to leave interest rates unchanged. This decision came as a surprise to economists who had anticipated a further cut of 25 basis points, as in October. The President of the National Bank of Poland, Adam Glapiński, emphasized that... Read More →
Core inflation decreases – new data from the National Bank of Poland
Every month, the National Bank of Poland runs an analysis of four core inflation indicators, which is an important instrument for understanding price dynamics in Poland. The main indicator, the Consumer Price Index (CPI), reflects the average price changes within an extensive market basket of products and services purchased by... Read More →
European Court of Justice opinion on foreign currency loans
Following the opinion recently delivered by the European Court of Justice (ECJ), the Polish Banking Supervision Commission KNF has warned of “dramatic consequences for the banking sector” if private consumers would be granted a “free loan”. The long-running dispute over foreign currency loans, especially mortgage loans in Swiss francs, has... Read More →
Swedes invest in cellulose fibre packaging production in Kostrzyn
The paper manufacturer Arctic Paper and the Swedish cellulose producer Rottneros AB have contractually agreed on a joint venture for the construction of a paper mill in Kostrzyn nad Odra. The site, located at the border crossing to Germany, will produce molded cellulose fiber packaging from the end of this... Read More →
Start of production of Jeep Avenger in Tychy
At the car plant in Tychy (formerly Fiat-Chrysler), the Stellantis Group has started regular production of the Jeep Avenger. The fully electrified vehicle is the first Jeep produced by the car company in Poland. The Jeep Avenger is a vehicle from the B-segment of SUVs. The vehicle was named “Car... Read More →
Polenergia opens one of the largest wind farms in Poland
The private company Polenergia has opened FW Dębsk, its largest wind farm. With a projected annual output of 366 GWh, equivalent to the electricity needs of around 180,000 private households, it is also one of the largest wind farms in Poland. It is located around 60 kilometres north of Warsaw.... Read More →
Government plans tax on vacant residential real estate
According to research institutions, the housing shortage in Poland is about 1.5 to 2 million apartments. At the same time, however, there are around 1.8 million vacant apartments, according to the CIS statistics office. In order to resolve this imbalance and combat speculation on housing prices, the government announced at... Read More →
Commissioning of the car tunnel to the island of Usedom announced for May
The construction of a car tunnel connecting the island of Usedom with the Polish mainland is nearing completion. According to the General Directorate for National Roads and Motorways (GDDKiA) in Szczecin, all structural work has been completed. At present, the asphalt is still being laid on the two-lane carriageways. The... Read More →
Industrial production has reached the bottom
Industrial production grew by 2.6 percent in January, as the Central Statistical Office (GUS) reported. Compared to the previous month, December (1.0 percent), this represents a higher growth rate. However, analysts point out that this accelerated growth was generated only by the energy-producing sectors and mining. By contrast, the manufacturing... Read More →
Despite a massive decline in demand – housing prices are on the rise
After years of boom in the residential real estate market, housing development companies sold only 40,900 new homes in the country’s seven largest cities last year, according to Poland’s largest real estate portal Otodom. This is the lowest annual figure since 2014 and represents a decline of 35 per cent... Read More →
