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The Warsaw Voice » Business » January 28, 2015
Business & Economy
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In Brief
January 28, 2015   
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FDI Continues to Flow
The Polish Information and Foreign Investment Agency (PAIiIZ) says it midwived 54 foreign investment projects in Poland last year with a total value of 3.8 billion euros. This is twice as much as in 2013. At the moment, work is in progress, with the PAIiIZ’s support, on 154 other projects worth more than 2.9 billion euros. If all these projects were successfully carried out, they could help create more than 30,000 new jobs in the future, the agency said. Most of the projects (53) involve investors from the United States. These American investment projects are worth more than 1 billion euros in all.

2014 a Stable Year for the Zloty
Despite a sharp depreciation of the Polish currency at the end of last year, when its price fell to its lowest level in two-and-a-half years, the zloty has an exceptionally stable year behind it. According to auditing and consulting firm Grant Thornton, the amplitude of fluctuations in the euro-zloty exchange rate was only 4.79 percent throughout the year. The rate fluctuated by no more than 30 groszy. That’s the least since 2000, when the zloty was fully floated by the Polish central bank, the NBP. To compare, in 2008, the most unstable year for the zloty so far, the amplitude of fluctuations was 23.47 percent (148 groszy).

In 2014, the zloty was one of the most stable currencies in Europe, ahead of currencies such as the British pound, Swedish krona, Norwegian krone and Turkish lira. In Europe, only the Czech koruna and the Romanian leu showed a lower amplitude of fluctuations than the zloty.

Smaller Losses Due to Natural Disasters
Overall losses from natural disasters worldwide totaled $110 billion (93 billion euros) last year, of which roughly $31 billion was insured, according to German reinsurer Munich Re.

Last year’s losses were lower than in 2013 ($140 billion) and also lower than the average for the last 30 years.

The costliest natural catastrophe for the global insurance industry was a winter storm with heavy snowfalls in Japan, at $3.1 billion, the German reinsurer noted in its report.

Fewer Bankruptcies Among Wholesalers
Courts declared the bankruptcy of 202 retail and wholesale trade companies in Poland last year. Although this means a 6-percent decrease compared with 2013, the situation in the sector is still difficult, according to Coface, a company that assess risk in retail and wholesale trade.

The company’s data shows that 120 wholesale trade companies went under in 2014, marking a 5-percent decrease compared with the previous year. However, the number of insolvencies in the retail segment increased by 7 percent and affected 65 companies.
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