Polish retail sales grew 19% y/y at constant prices in April, the growth rate nearly doubling versus a gain of 9.6% y/y the preceding month.
Prompt and decisive government intervention, financial lifelines and firms’ involvement in global value chains have helped minimise insolvencies, says EIB/EBRD report.
Industrial output expanded 13% y/y in constant prices in April, after growing 17.3% y/y the preceding month.
Rampant inflation has already eaten into household incomes, while more expensive credit will tighten wallets. The question is how deep the slowdown will be.
Ending new oil, gas and coal developments is not enough to reach net zero by 2050, according to new research. Instead, already built fossil fuel projects must be decommissioned early if climate change is to be limited to 1.5°C.
Human activity has caused irrevocable damage to the climate, causing hundreds of billions of dollars of economic damage and threatening water and food supplies to millions of people.
Brussels will assess the real value of the pledged changes before deciding ultimately on unlocking funds that could total €4bn this year.
Full-year economic growth forecast at around 5% despite Ukraine-driven slowdown.
With double-digit headline inflation and accelerating core inflation readings, the National Bank of Poland is expected to keep on tightening monetary policy in the months to come.
The accession of Finland and Sweden to Nato will transform the picture in the Baltic region but more military deployments are still needed, argue Baltic experts.
Annual inflation up 1.4pp from the March reading, and is 0.1pp higher than the flash estimate.
The European Commission is considering raising its renewable energy target for 2030 to 45% in new green plans to be published later in May.
The war in Ukraine has interrupted grain exports from the country and could create a global food crisis as vulnerable wheat importing countries in Africa and the Middle East face shortages and rising prices.
Renewables are again set to break global records in 2022, with 320 GW of new capacity forecast to come online and new solar projects in China and Europe driving growth.
Banks set to be forced to give four monthly credit holidays this year and four in 2023.
The EBRD has cut its 2022 emerging Europe growth forecasts again, reflecting a sharp downgrade for Ukraine and the regional fallout from the war and sanctions.
We have all heard the adage that a butterfly flapping its wings in the Amazon could affect the weather patterns on the other side of the planet. Might the war in Ukraine also have such unintended consequences?
The sharp increase in the inflation rate came on the back of food prices growing 12.7% y/y.
“Here to Stay: Eastern Europeans in Britain” tells the story of the half million citizens of the new EU member states who have moved to the UK since the early 21st century.
The Polish parliamentary debate on how to overhaul the Disciplinary Chamber of the Supreme Court to address Brussels’ criticisms could lead to a showdown inside the governing coalition.