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ECONOMY

BIEC: economic slowdown is over in Poland

The Leading Index (LI) measuring the future activity in the economy and showing increases and decreases in the level of economic performance of the entire economy with some months ahead of the GDP grew by 1.3 points in July following a 0.3 point increase in June, the Bureau for Investments and Economic Cycles (BIEC) announced.

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Polish dole queue shortens

The registered unemployment rate reached 11.6% in June 2010 against 11.9% a month earlier, Poland's Central Statistical Office (GUS) announced.

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Polish zloty weakens on fears of Hungarian crisis

The weakening of the Polish currency the zloty is caused by the situation in Hungary and the weakening of the euro against the dollar, Polish Finance Minister Jacek Rostowski has said. “It is a symptom of deep uncertainty on European and global markets.

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Poland’s industrial output shoots up

Sold industrial production in Poland in constant prices (in enterprises employing more than 9 persons) in June 2010 was 14.5% higher than in the corresponding month last year and 7% higher than in May 2010, Poland’s Central Statistical Office (GUS) informs.

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S&P urges Poland to slash public debt

Standard & Poor rating agency has maintained independent rankings for Poland (including the long-term ranking for foreign currencies A-) and a stable outlook for the country’s economy. It cautioned, however, that a decrease in Poland’s loan credibility is possible unless realistic plans for a reform of public finances are drafted till 2012.

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Eastern Partners Facility

The European Investment Bank (EIB) has decided to launch a new financial tool “Eastern Partners Facility (EPF)” in order to partially finance investment projects in countries of the Eastern Partnership proposed by Poland and Sweden i.e. the Republic of Moldova, Georgia, Armenia, Azerbaijan, Russia and Ukraine.

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Poland signs LNG terminal construction contract

Polish LNG Company has signed a contract for the construction of a liquefied gas terminal in the Baltic port city of Swinoujscie, north-western Poland.

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Warsaw Stock Exchange set to grow massively in next decade

The Warsaw bourse is expected to expand 4-5 times within the coming decade, according to a forecast by Mark Mobius head of Templeton Asset Management.

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