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The Warsaw Voice » Business » August 29, 2013
Business & Economy
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In Brief
August 29, 2013   
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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.

Card Users Safe in Poland
Poland is one of the safest countries in Europe when it comes to payment card transactions. According to First Data Polska, the owner of Polcard, Poland’s largest payment card settlement center, only 0.01 percent of payment card transactions in the country involved fraud between October 2012 and March 2013, six times less than the European Union average. Thirty percent of all cases of fraud occurred in the hospitality industry when people were booking accommodation.

Contactless cards were responsible for only 504 fraudulent transactions. The overall number of contactless card transactions handled by Polcard in the second half of last year was 15 million, up from 900,000 in the first half of 2011, First Data Polska said.

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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