We use cookies to make sure our website better meets your expectations.
You can adjust your web browser's settings to stop accepting cookies. For further information, read our cookie policy.
IN Warsaw
Exchange Rates
Warsaw Stock Exchange - Indices
The Warsaw Voice » Business » March 4, 2009
You have to be logged in to use the ReadSpeaker utility and listen to a text. It's free-of-charge. Just log in to the site or register if you are not registered user yet.
Business in brief
March 4, 2009   
Article's tools:

Unemployment in Double Digits
Poland's unemployment rate hit 10 percent in January, with around 1.5 million people out of work.

Under the worst-case scenario, unemployment in the country may reach 12 percent over the next few months, a level last recorded in July 2007, said labor minister Jolanta Fedak. This is due to the ongoing economic crisis combined with an inflow of workers returning from other countries and registering themselves as unemployed, Fedak said. Yet another problem is that many seasonal workers are losing their jobs, she added.

Exports to Russia at High Ebb
Poland's exports to Russia grew an estimated 28.8 percent last year in euro terms, more dramatically than to any other country, according to Poland's Central Statistical Office (GUS).

Exports to the Netherlands rose 17 percent and those to the Czech Republic and France increased by 14.8 percent and 14 percent respectively. At the same time, exports to Germany, Poland's largest trade partner, rose by only 8.5 percent. Germany's share in Poland's exports dropped by 0.9 percentage points to 25 percent.

Production Down in Poland...
Poland's industrial output in January dropped by 5.8 percent month on month and 14.9 percent year on year, the country's Central Statistical Office (GUS) reported.

The main reason behind the drop is falling demand and a decreased number of orders, both domestic and foreign, GUS said.

... and Hungary
Hungary's industrial output fell by 1.1 percent in 2008, according to the country's statistics office. This was the first annual decrease since 1992 when production dropped by 9.7 percent. In December, industrial output in Hungary was down by 23.3 percent year on year, after a 9.9 percent drop in November.

Czechs Produce Anti-Crisis Plan
The Czech government has announced an anti-crisis plan that calls for a reduction in taxes and social contributions paid by businesses. Under the plan, the country's budget deficit could exceed 3 percent of gross domestic product.

The government has also promised credit guarantees for small and medium-sized businesses, investment in transport infrastructure, and measures to counteract recession and unemployment.

Lithuanian Plan for the Economy
The Lithuanian government is working on a plan to stimulate the country's economy. The plan comes in the wake of talks between the country's economy ministry officials and business leaders.

The business community has submitted more than 200 proposals for measures to improve the performance of Lithuanian businesses. Businesspeople want easier access to loans, lower fiscal burdens, and government help in protecting jobs.

Ukraine in Banks Plan
Ukrainian prime minister Yulia Tymoshenko has proposed financial assistance to commercial banks in exchange for equity.

"We have created a mechanism for supporting banks by taking over some of their stock, which will remedy the situation," Tymoshenko said at a government meeting, adding that the deals would be made on a voluntary basis.

NBP Exchange Rates (February 2, 2009)

1 EUR = zl. 4.7483
1 USD = zl. 3.7674
1 CHF = zl. 3.2069
1 GBP = zl. 5.3490
100 JPY = zl. 3.8691
© The Warsaw Voice 2010-2018
E-mail Marketing Powered by SARE