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Podcasts

Why do Israeli property developers pick Poland?

Behind many housing developments that are mushrooming in Warsaw and other Polish cities there is Israeli capital. We talk to Shraga Weisman, President of Ronson Development, about what attracts Israeli property developers to Poland. >>

New Polish president’s economic priorities

In his inaugural address to the Polish Parliament the country’s new President Bronislaw Komorowski spoke about what needs to be done to sustain Poland’s development. >>

Storm over homoerotic art show at Warsaw’s National Museum

The main cultural event of Euro Pride, an LGBT festival in the Polish capital Warsaw this week-end, is a homoerotic art show which has stirred a huge amount of controversy. >>

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

Official election results give Poland’s president elect 53% of the vote. But what does his presidency mean for the country? >>

Poland and OECD innovation strategy

A roundtable on OECD Innovation Strategy - Towards new perception of innovation has been organised in Warsaw by the Polish Ministry of the Economy. The focus was on what to do to make individual countries and the world economy more innovative. >>

How to make the Polish economy more innovative?

Innovation is something that drives modern economies, but in Poland, public perception is that some R&D centres come up with truly ground-breaking inventions, while the overall picture is pretty uninspiring. Innovation is the main theme of the June edition of “Polish Market” magazine. To promote innovation the Institute of Economics of the Polish Academy of Sciences compiles a ranking highlighting the best that is happening in the country’s R&D. Its results are showcased in the issue. Rafal Kiepuszewski sat down with Professor Leszek Jasiński who heads the Institute to talk about ways of making the Polish economy more innovative. >>

Flooding hits Poland again: lessons for the future

According to government estimates, reconstruction efforts in the aftermath of a catastrophic flooding that hit southern and central regions of Poland can cost EUR2.5 billion. But many areas suffered flooding for the third time since 1997. Experts ask whether enough has been done to prevent it and what to do in the future. >>

Does Poland need IMF Flexible Credit Line extension?

The granting of an IMF Flexible Credit Line (FCL) to Poland last year at the height of the world economic downturn was regarded as a sign of appreciation for the strength of the country’s economy and a safeguard against any possible outside threats. Since then Poland has not drawn a penny from the line. But now the National Bank of Poland says Poland no longer needs the FCL, because it has sufficient reserves. The Polish finance ministry, on its part, is of the opinion that Poland does need to extend the line in view of the deepening financial crisis in the south of Europe. >>

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

• Why do Israeli property developers pick Poland?

• New Polish president’s economic priorities

• 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?

COMING UP

18th International Defence Industry Exhibition >>

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

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