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Poland and China: two partners unscathed by the crisis

The head of the Trade and Investment Section at the Polish Embassy in Beijing discusses ways of boosting bilateral economic relations. >>

Polish artist turns around Polish-Jewish stereotypes

Polish performance artist Rafal Betlejewski paints graffiti saying ‘I Miss You Jew’ in remembrance of the 3,000,000 Polish Jews wiped out during the Holocaust. He also invites Polish residents of former Jewish communities to be photographed next to an empty chair to symbolise their vanished neighbours. Betlejewski says the response to his art project is enormous. >>

Unconventional natural gas – Poland’s secret weapon

New discoveries of unconventional natural gas deposits may allow Poland to become independent of Russian supplies in the near future and even to become a gas exporter. >>

Shock and outrage at Warsaw underground ‘saucy sheep’ mural

A mural on the Warsaw underground featuring risqué scenes involving inflatable sheep is stirring controversy between those who believe artistic expression should be free and those with a more traditional outlook. >>

Gdansk reinvents Elizabethan theatre tradition

The Teatrum Gedanense Foundation has launched the reconstruction of a Shakespearean theatre which existed in the multicultural city of Gdansk in Elizabethan times. >>

Poland kicks off Chopin Year

A series of concerts featuring top world pianists, two high-profile festivals, a new Chopin museum in Warsaw and a 3D animated film devoted to the composer’s music and featuring the Chinese star pianist Lang Lang are just some attractions scheduled during Chopin Year 2010. >>

David Lynch spearheads urban revitalisation of Polish city

The once depressed central Polish city of Lodz is experiencing something of revival, also with the help of American filmmaker David Lynch who has fallen in love with it. >>

Can Poland continue to outpace the rest of Europe in economic growth?

In 2009 Poland emerged as Europe’s only economy to show positive growth. Professor Stanislaw Gomulka, Chief Economist of the Business Center Club does some crystal ball gazing to examine prospects for 2010. >>

Polish Market

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

• Poland and China: two partners unscathed by the crisis

• Polish artist turns around Polish-Jewish stereotypes

• Unconventional natural gas – Poland’s secret weapon

• Shock and outrage at Warsaw underground ‘saucy sheep’ mural

• Gdansk reinvents Elizabethan theatre tradition

• Poland kicks off Chopin Year

COMING UP

Fraud Risk Management >>

WEEKLY MARKET ANALYSIS

The last portion of macroeconomic data for January will be released on Friday when the National Bank of Poland (NBP) is expected to publish balance of payments figures. We estimate that the current account deficit reached EUR580 million while the consensus of the “Parkiet” daily is EUR614 million. We expect that growth in exports slowed slightly in January to 10.9% y/y. We also predict that imports had already made up for last year’s losses and rose by 7.7% y/y in January.

MARKET INFO

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