Tag: Polish economy

28
Jun

Why banks reduce interest rates on deposits.

The rate reductions are due to the fact that this strategy brings double benefits to banks. First of all, paying lower interest costs less. In addition, some people discouraged by low interest rates give up deposits and simply keep savings on an interest-free bill. This means for banks a free source of financing. In addition, the advantage of deposits over loans granted is increasing in the banking sector. The value of the former is already 13 percent higher than loans. For comparison, in 2011 the situation was opposite – the value of loans was up by 14 percent higher than deposits. Banks are therefore less and less motivated to pay us high interest rates. They are not able to earn part of our savings because they give too little credit.


							
21
May

The Swiss Franc is the most expensive since the beginning of April

The Swiss franc, one of the more closely observed currencies in Poland, has risen in price compared to the zloty by about 2 percent over the past two weeks. The franc rate rose above PLN 3.81, reaching the level we recently observed at the beginning of April this year. Unfortunately, the franc may soon be even more expensive. Not only the Polish zloty but also the US dollar or the euro are losing to the franc. In two weeks, the franc strengthened against the euro by about 1.5 percent, and against the dollar by about 1.6 percent.

17
May

15 years of Poland in the European Union

For many people, membership of the European Union is almost normal. However, it cannot be denied that the changes that took place in 2004 had a major impact on all areas of economic and social life in our country in the following years. Membership benefits are undeniable. Just look at the balance of payments and withdrawals from the EU cash register. During these 15 years, Poland received net, i.e. after transfers from EU treaties over EUR 100 billion, i.e. at today’s EUR / PLN exchange rate over PLN 430 billion! To see how big this amount is, just look at this year’s Polish budget, which is PLN 387 billion.

It must also be admitted that Poland, looking generally at all these 15 years, used the EU funds in a satisfactory manner. Initially, there were considerable formal difficulties, even with completing the applications, but over time national institutions gained experience, as well as public awareness in the context of the existence of various forms of assistance from the EU increased, which allowed optimal use of funds. Funds from the cohesion fund were used primarily for infrastructure, including roads and motorways. For example, when we entered the EU, highways were only 500 km, while today it is already 1630 km. Farmers will not complain either. The billions of euros that went under direct payments allowed us to significantly modernize the Polish countryside, breeding and cultivating plants. Exports to the EU have also increased significantly. It increased almost five times.

Poles want to be in the EU, according to surveys, CBOS declares over 90%, and appreciate the benefits of being a member. It is mainly about the growth of the Polish economy and the growing quality of life. More and more Poles also appreciate the role of the European Parliament and thus declare a greater desire to participate in elections to this body.

10
Apr

The businessman will deduct only 20% of car expenses

Only one-fifth of expenses on cars not recorded in the fixed assets register can be at the company’s expense. It does not matter if the vehicle is owned or co-owned by the taxpayer. The rules for accounting for expenses on company cars have changed since January 1 this year. According to the director of the National Treasury Information, you cannot deduct the car expenses belonging to the entrepreneur if it is not part of the company’s assets. However, if the car is used in connection with the business carried out in accordance with art. 23 par. 1 point 46 of the PIT Act, its operating costs and insurance premiums are only 20% tax deductible.

06
Apr

Polish Bank Pekao intends to release up employees.

The management of Pekao has adopted a resolution on the intention of group layoffs and consultation on this matter. It is about releasing a maximum of 950 people.Continue Reading..

16
Mar

Deutsche Bank and Commerzbank joined the merger talks.

Both banks have officially confirmed the start of talks on mergers, although they stipulate that they are only at the initial stage of talks. Nevertheless, the prices of shares of Deutsche Bank and Commerzbank to the south on Monday increased on the stock market by 4.07 per cent, respectively. and 6.87 percent.Continue Reading..

10
Mar

The Polish government wants to tax Netflix, Spotify and other streaming services…

If the new PiS project comes into force, the state budget can affect up to one billion zlotys a year. By applying taxes to digital service providers, including Netflix, HBO and even Facebook the government wants to gain funds in this way to implement the recently announced election promises.Continue Reading..

10
Jan

Will Poles decide to adopt the euro?

Lithuania, Latvia, Estonia, Slovakia gained from joining the monetary union – according to the report made by Polish scientists. Will it convince Poles to join the euro zone?

Continue Reading..

22
Nov

Black Friday – the increase can reach as much as 70 percent.

In 2017, the worldwide value of online retail sales amounted to over $ 2 trillion, and by 2021, it is expected to increase more than double and reach almost $ 5 trillion. One of the factors driving the development of e-commerce is the growing popularity of sales, which generate additional traffic on websites and increase the turnover of stores.Continue Reading..

14
Nov

Specialists predict that the Polish economy will break records in the field of infrastructure investments.

Specialists predict that Poland will become the logistic center of the Europe. The latest OECD data (Organization for Economic Cooperation and Development) show that raising living standards in Poland is conducive to the development of positive economic trends and the rapid development of the labor market.Continue Reading..