Fiscal Balance in Poland
Poland - Fiscal BalanceThe 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 Polandâ€™s credit rating, citing the countryâ€™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 - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-3.7||-2.6||-2.4||-1.5||-0.2|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||2.07||-0.30 %||Dec 31|
|Exchange Rate||3.79||-0.53 %||Jan 01|
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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.
May 21, 2020
Industrial output crashed an all-time sharp 24.6% year-on-year in April, following the milder 2.3% drop recorded in March, according to the Central Statistical Office (GUS).
May 15, 2020
The economy grew 1.9% year-on-year (yoy) in the first quarter of this year, marking the weakest expansion since Q3 2013, according to a preliminary estimate released by the Statistical Institute (GUS) on 15 May.
May 15, 2020
Consumer prices dipped 0.1% over the previous month in April, contrasting March’s 0.2% increase.
May 6, 2020
Consumer prices remained unchanged over the previous month in April, following March’s 0.2% uptick, according to provisional data released by the Poland’s Statistical Institute (GUS).