Oresteia in Warsaw

Iannis Xenakis’ ‘Oresteia’ directed by Michał Zadara will premiere on March 14 in the theatre Wielki-Opera Narodowa in Warsaw. This production is Zadara’s known for his original classical texts’ interpretations debut in opera directing.

The performance is part of the Territories project aimed at presenting 20th and 21st century works of opera and ballet which are almost absent from Polish theatres.

‘Oresteia’ with libretto after Aeschylus had its world premiere in Gibellina, Sicily on 21 August 1987. In Zadara’s interpretation it is a metaphor of Poland’s political identity. The cast features: Holger Falk (Cassandra) and Tobias Hagge (Coryphaeus). The soloists will be accompanied by the National Opera Choir and Orchestra and Alla Polacca Choir conducted by French artist Franck Ollu. MP

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ECONOMIC MONITOR

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• ● 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.
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• In 2009 construction output increased by 3.7%.
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• Retail sales increase in most product groups.
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• On the Warsaw Stock Exchange, stock prices were very volatile in January 2010.
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• At the end of December 2009 the registered unemployment rate (claimant count rate) amounted to 11.9% versus 11.4% in November.
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• At the end of January the president signed the 2010 budget bill into law. The bill was adopted by the parliament on December 18.
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• 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.
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PODCAST

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

• Poland and OECD innovation strategy

• How to make the Polish economy more innovative?

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• 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%.

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