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Revival of the Polish economy: GDP in Q2 2024
In the second quarter of 2024, the Polish economy experienced significant acceleration. According to preliminary data from the Central Statistical Office (GUS), Gross Domestic Product (GDP) grew by 3.2% compared to the same period last year, surpassing analysts’ forecasts of 2.7-2.8%. This is notable as growth in the first quarter...
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New Central Statistical Office (GUS) data on foreign trade
New data on exports and imports for the period from January to November 2023 have been published on the website of the Polish Central Statistical Office. From January to September 2023, merchandise turnover in foreign trade reached PLN 1,204.2 billion in exports and PLN 1,160.5 billion in imports in current...
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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...
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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...
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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...
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Gas price freeze from 1 January – but not for companies
The Polish parliament has decided to freeze gas prices at the current level for the coming year. Gas is expected to cost a maximum of 200 PLN (~45 EUR) per MWh in 2023. The legal umbrella covers gas prices for private households, housing cooperatives and their local heat generators, social...
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Start of construction for the expansion of the Gdansk container port
Construction work on the third terminal (T3) has begun at the Port of Gdansk on the Baltic Hub container terminal (formerly DCT Gdansk). In the first instance, the multi-phase plan envisages the construction of a 36-hectare platform adjacent to the T1 terminal. Afterwards, a 717-metre-long quay with a water depth...
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First ultra-fast charging station from PKN Orlen
The Polish petroleum company PKN Orlen has put into operation the first ultra-fast charging station for electric vehicles. It is located in the northern part of the A-1 motorway at the Machniarz South rest area, which is only a few kilometres away from the company’s headquarters in Płock. The charging station...
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Industrial production according to the GUS
Industrial production increased by 6.8 per cent year-on-year in October. However, it decreased by 0.7 per cent month-on-month, the Central Statistical Office (GUS) announced. Growth was registered in 25 of 34 industry groups. The automotive sector again took the top spot with 41.7 per cent. As in the previous month,...
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Surprisingly high growth of industrial production
Surprisingly positive and clearly above analysts’ expectations were the industrial production data in September. According to the Central Statistical Office (GUS), the value of sold industrial production was 9.8 per cent higher than in the same period last year. Compared to the current month, the growth rate was only slightly lower....
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