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The Warsaw Voice » Business » August 1, 2013
Business & Economy
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In Brief
August 1, 2013   
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Exports on the Rise
Poland’s exports rose by more than 7 percent in the first half of this year, according to Deputy Prime Minister Janusz Piechociński. Exports to China rose by 30 percent, and sales to other Far Eastern countries increased by 20 percent.

“Having encountered difficulties in exporting to EU countries, Polish businesses are refocusing their potential on new markets. By the end of 2015 Poland may triple its trade with countries in the Far East,” said Piechociński.

Incomes Grow?
Poland’s households had a combined disposable income of zl.226.5 billion in the first quarter of this year, according to the government’s Central Statistical Office (GUS). That’s about 5 percent more than in the first quarter of last year and the greatest increase in three years.

Poland’s Shale Gas Deposits Largest in Europe: Report
Poland is still number one in Europe in terms of shale gas reserves, according to a June report by the U.S. government’s Energy Information Administration (EIA). The agency put Poland’s total shale gas deposits at 4.2 trillion cubic meters. In Poland, however, the U.S. agency’s estimates are widely believed to be too optimistic. Poland’s Geological Institute (OIG) has estimated the country’s shale gas deposits at no more than 770 billion cubic meters.

More Money from EU
Poland received 3.58 billion euros from the European Union in May, including 3.13 billion euros under the Cohesion Policy and 454 million euros under the Common Agricultural Policy. At the same time, Poland contributed 341 million euros to the common EU budget in May.

Since joining the EU on May 1, 2004, Poland has received 54.8 billion euros from EU coffers after deducting its own contributions and refunds.

Two Extra Years to Trim Deficit
EU finance ministers have agreed to give Poland an additional two years to reduce its public finance deficit. According to a set of recommendations issued by the European Commission in May, Poland has until the end of 2014 at the latest to deal with its excessive deficit. This year Poland’s public finance deficit is expected to be 3.6 percent of the GDP, followed by 3 percent next year.

NATO Cuts Spending
NATO is considering substantially reducing its spending on defense installations in Poland and may decide against building two new fuel depots in this country, reports suggest.

Since Poland became a NATO member in 1999, the alliance has modernized two seaports and six military airfields in this country and built a number of long-range radar and fuel depots with a total value of nearly zl.2.2 billion.
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