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The Warsaw Voice » Business » February 27, 2015
Business & Economy
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In Brief
February 27, 2015   
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Imports and Exports Up

Poland’s exports grew 5.3 percent and imports increased by 5.6 percent last year compared with 2013, according to the Central Statistical Office (GUS). The country’s foreign trade deficit reached zl.10.2 billion, zl.2 billion more than in 2013.

In euro terms, Polish exports were worth 163.1 billion euros and imports totaled 165.5 billion euros, growing 5.2 and 5.5 percent respectively.

EU Funds for Poland
The European Commission plans to unlock 1 billion euros to help 650,000 young Europeans find jobs. Of this amount, Poland will receive 75.7 million euros this year. The Commission wants to set in motion an initiative approved by the European Parliament in 2013 to boost employment among young people. The Youth Employment Initiative has a budget of 3.2 billion euros, with the European Social Fund expected to contribute another 3.2 billion euros.

Most programs planned under the initiative are ready to roll, but EU member states lack funds to carry them out, hence the Commission’s proposal to accelerate pre-financing for the initiative.

GDP Grows
The Polish economy grew 3.3 percent last year and, along with Hungary and Malta, was the second-fastest growing economy in Europe after Ireland, according to the European Commission.

This year the Commission expects Poland to muster 3.2 percent GDP growth and to be the third-fastest growing economy in Europe after Ireland and Malta.

Modlin Airport Expanded
Work is under way to expand Warsaw’s Modlin airport. The project is scheduled for completion in 2018. At the moment, Modlin Airport can handle 3.5 million passengers a year. After the enlargement, its capacity will grow to 5 million.
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