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The Warsaw Voice » Business » September 5, 2017
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Largest companies reluctant to spend more
September 5, 2017   
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Investments in Poland are rebounding slower than expected due to reluctant spending by the largest companies, especially energy firms, daily Dziennik Gazeta Prawna (DGP) writes quoting Credit Agricole Polska chief economist Jakub Borowski.
Similar reluctance can be observed in the SME sector, Borowski's counterpart at Bank Millennium Grzegorz Maliszewski adds.
This may be a side effect of the finance ministry's efforts at improving tax enforcement, with some of the measures hindering companies' financial liquidity.
Another likely reason is the approaching retirement age cut, Borowski remarks. Buying new equipment often requires taking on new staff, which is already difficult and will become even more difficult once those entitled to early retirement start leaving, hence the reluctance to invest, he explains.
Investments should start bouncing back in the coming quarters, but if the stagnation continues and individual consumption remains high, economic growth could fizzle out in the longer run, experts interviewed by DGP warn.
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