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The Warsaw Voice » Business » September 28, 2012
Business & Economy
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In Brief
September 28, 2012   
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Poland Attracts Conference Business
Poland is increasingly seen as an attractive destination for business meetings and conferences. The country ranks 23rd in a league table for 2011 drawn up by the Union of Associations Meetings Statistics. The International Congress and Convention Association has also noticed Poland’s attractiveness for business tourism. In its league table for 2011 Poland moved up from 32nd place in 2010 to 21st place.


Billions in EU Funds
Bank Gospodarstwa Krajowego (BGK), which has been responsible for disbursing EU money in Poland since January 2010, has already paid out over zl.100 billion in subsidies to beneficiaries of aid from Brussels. The largest amount of money, zl.36 billion, went to beneficiaries under the Infrastructure and Environment program, the EU’s largest operational program ever. A further zl.18.2 billion was paid out under the Human Capital program, and almost zl.12 billion under the Innovative Economy program.


Bank Profits on the Rise
The net profit of the Polish banking sector for the seven months to the end of July 2012 reached zl.9.6 billion, compared with zl.9.1 billion a year earlier, Poland’s central bank has reported on its website.


Smugglers Gain, State Loses
The government will lose out on up to zl.6 billion this year because of smuggling of products subject to excise tax, in particular cigarettes and alcohol, according to the Employers of Poland organization. Last year, taxes levied on tobacco products alone generated zl.24 billion for state coffers.


Billions from Privatization
The government earned zl.3.14 billion from privatization in the first five months of this year on a cash basis, the Treasury Ministry has announced. The revenue for the full year 2012 is projected at zl.10 billion.


EIB Loan for Tauron
Energy group Tauron has received a zl.900 million loan from the European Investment Bank. The company will spend the money on a five-year investment program designed to modernize and expand its electricity network in southern Poland. The program is expected to cost around zl.2 billion.
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