Current Account in Poland
Poland - Current Account (billions of Euros)
The economy seemingly took a notable hit from containment measures in the first quarter, which seems set to be even more severe in the second quarter. Industrial production and retail sales slumped at the tail-end of Q1, coinciding with the introduction of a partial lockdown, while crashing business and consumer confidence as well as manufacturing activity in April hint at the magnitude of the expected downturn in Q2. In further bids to cushion the economy, on 17 April Parliament approved a new package to protect jobs worth EUR 2.4 billion, and in early May backed a plan to support firms worth EUR 0.2 billion. Meanwhile, in mid-April, S&P Ratings affirmed Poland's credit rating, citing the country's manageable levels of public and private debts and its diversified economy. On a less positive note, in late April the European Commission launched legal action against Poland, questioning aspects of its judicial reform and thus reigniting conflicts with EU institutions.Poland - Current Account (EUR bn) Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Current Account Balance (EUR bn) | -8.5 | -2.3 | -2.2 | 0.2 | -5.0 |
Poland Current Account (EUR bn) Chart
Source: National Bank of Poland and FocusEconomics calculations.
Poland Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.07 | -0.30 % | Dec 31 |
| Exchange Rate | 3.79 | -0.53 % | Jan 01 |
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Economic News
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Poland: Inflation at six-month low on plunging fuel prices in May
May 29, 2020
Consumer prices fell 0.2% over the previous month in May, following April’s 0.1% dip, according to provisional data released by the Poland’s Statistical Institute (GUS).
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Poland: Growth weakens to over-six year low in Q1 but economy shows resilience
May 29, 2020
In the first quarter, the economy grew 2.0% year-on-year in unadjusted terms, according to a second estimate released by Poland’s Statistical Institute (GUS).
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Poland: Central Bank slashes rates to fresh all-time low in May; reaffirms quantitative easing
May 29, 2020
On 28 May, the National Bank of Poland (NBP) slashed the reference rate from 0.50% to a new record low of 0.10%, in a further bid to mitigate the fallout from coronavirus.
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Poland: Retail sales contract at sharpest pace on record in April
May 25, 2020
Retail sales nosedived 22.6% year-on-year in April amid lockdown (March: -7.0% yoy), marking the steepest fall on record.
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Poland: Business sentiment recovers some lost ground but remains abysmal in May
May 25, 2020
Manufacturing-sector business confidence recovered some lost ground in May, although it remained deeply entrenched in pessimist terrain due to measures to contain the spread of Covid-19.
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