Four Polish cities confirmed as Euro 2012 sites

Four Polish cities: Warsaw, Gdansk, Poznan and Wroclaw have been confirmed by UEFAas venues that will host Euro 2012 football championship games. However, Ukraine’s hopes for co-hosting the championship on an equal footing with Poland were dashed when UEFA only approved the capital Kyiv.

Three other Ukrainian cities: Donetsk, Charkov and Lviv have until the end of November to prove that they can make it on time with infrastructure upgrades vital for Euro 2012 to take place.

A UEFA mission which visited Poland recently expressed satisfaction with the pace of work on Polish sports stadiums and infrastructure ahead of the event. The construction of a national stadium in the Polish capital Warsaw, which is likely to host the opening ceremony, recently gathered momentum. According to the organizers, the stadium is likely to be ready ahead of schedule. (rk)

Polish Market

ECONOMIC MONITOR

download pdf

• ● In December 2009 and January 2010, as in previous months in the second half of 2009, the Polish economy stood out against other countries in terms of GDP growth. Poland’s economic growth was higher than projected and higher than in other European countries.
read more »

• In 2009 construction output increased by 3.7%.
read more »

• Retail sales increase in most product groups.
read more »

• On the Warsaw Stock Exchange, stock prices were very volatile in January 2010.
read more »

• At the end of December 2009 the registered unemployment rate (claimant count rate) amounted to 11.9% versus 11.4% in November.
read more »

• At the end of January the president signed the 2010 budget bill into law. The bill was adopted by the parliament on December 18.
read more »

• In the fourth quarter of 2009 the Polish economy turned out to be more resistant to the global crisis than had been projected and than the economies of Polish neighbours, something which boosts optimism in forecasts for 2010 and the next years.
read more »

PODCAST

• Storm over homoerotic art show at Warsaw’s National Museum

• Poland’s new president Bronislaw Komorowski: a pragmatic, pro-business, euroenthusiast

• Poland and OECD innovation strategy

• How to make the Polish economy more innovative?

• Flooding hits Poland again: lessons for the future

• Does Poland need IMF Flexible Credit Line extension?

WEEKLY MARKET ANALYSIS

Retail sales up again in June
Retail sales growth in nominal terms accelerated in June to 6.4% y-o-y from 4.3% y-o-y in May. The increase was higher than expected. In real terms, retail sales growth accelerated to 4.5% y-o-y from 2.0% y-o-y. June was a consecutive month with retail sales figures stronger than expected, which indicates that consumption is recovering after it slowed significantly at the beginning of the year. Private consumption is driven by an improvement on the labour market coupled with a rise in disposable incomes. In Q2 2010 retail sales grew by around 3% y-o-y in nominal terms and around 1% y-o-y in real terms. On the basis of retail sales and industrial production data, it can be estimated that the GDP growth rate was close to 3%.

MARKET INFO

Sign up to comment on articles or receive newsletter
E-mail
Password