Poland’s Q2 2017 Growth Is Stronger Than Expected


Moody’s expects the positive economic momentum in Poland to continue for the rest of the year. The rating agency’s optimism resulted from the  year-over-year real GDP growth of 3.9 per cent in the second quarter of 2017, published by the Central Statistical Office at the end of August.

“We expect GDP growth to be driven by solid private consumption, as well as the slow, but steady, recovery in investment that reflects a favourable external environment and higher inflow of European Union funds. Higher economic growth and strong budget execution significantly increase the chance that Poland’s 2017 fiscal deficit will be well below the 3 per cent Maastricht-threshold for a third consecutive year,” write Moody’s analysts in the research release published in the early days of September.

Earlier, central government fiscal results also beat expectations, with the actual execution of the central government budget showing a 2.4 billion złotys surplus for January-July 2017, which is 28 billion złotys (around 1.4 per cent of GDP) more than the amount proposed in the 2017 Budget Act.

“These positive results prompted us to revise our 2017 GDP growth forecast to 4.3 per cent from 3.2 per cent, pushing the output gap into positive territory for the first time since 2012. Additionally, we expect Poland’s fiscal position to strengthen, with a fiscal deficit of less than 2.5 per cent of GDP in 2017, versus our earlier forecast of 2.9 per cent of GDP,” analysts say.

They add that the main GDP growth driver was domestic demand, which contributed 5.4 percentage points and was the strongest since third-quarter 2014. In particular, private consumption contributed 2.9 percentage points to GDP growth, boosted by strong employment increases, accelerating wages, and the “500+ child benefit programme,” which took effect in April 2016 and provides families with more than one child a subsidy of 500 złotys per child.

“On the fiscal side, Poland’s central government recorded a surplus of 2.4 billion złotys for January-July 2017, versus a year-ago deficit of 14.4 billion złotys, mainly attributed to a 9.3 per cent rise in revenue collection over year-ago levels that outpaced a 0.4 per cent rise in expenditures. Tax revenue rose 16.2 per cent year over year, reaching 61 per cent of what has been budgeted for the whole year, and non-tax revenue has already surpassed the full-year target. Value-added tax receipts grew by 24.4 per cent year over year, reflecting accelerating growth and measures combating tax evasion, corporate income tax receipts (13.4 per cent year-over-year growth) and personal income tax revenue (7.8 per cent year-over-year growth),” the report says.


Ukraine to Restart Privatisation to Realise Profits

Pricatisation electricity ukraine

Prospering Czechia Still Needs a Bigger Workforce

prague emerging europe

Global Players Dash for Tempting CEE

dollar pound euro coin on euro background.

Lithuania Set to Streamline Competition Legislation

Industrial dock with cranes on the quay

High-Tech Park in Minsk is growing rapidly

Effective Policies Have Strengthened the Georgian Economy

TBILISI GEORGIA Jul. 18 2017: Bridge of Peace is a bow-shaped pedestrian bridge a steel and glass construction over the Kura River in downtown Tbilisi capital of Georgia

Warsaw Rising: The Polish Capital’s Skyline Gets Even Taller


Latvia Urged Not to Increase Expenditure As Economy Grows

Riga, Latvia - August, 2010: Panorama view from Riga cathedral on old town of Riga, Latvia

Slovenia is CEE’s leader in innovation

Foreigners choose Minsk and Gomel as Belarus’ most attractive FDI destinations

e-Estonia: Believe the Hype

Nadiya Savchenko: I Dream of a Great Ukraine

Panorama of the top part of the Andrew's Descent from Castle Hill in springtime in Kiev Ukraine.

Poland to Switch from Emerging to Developed Market by September 2018

warsaw stock exchange

Revenues Of Bulgarian IT Companies Have Sextupled In the Last Decade

Poland Fails to Spend Billions of Euros in EU Funds

euro banknotes

Doing Business Across Eurasia Could Be Easier

Eurasia emerging europe schneider group

Macedonia — Stepping Out Of the Shadow Of the Balkans

SEE Link — Sharing SEE Europe’s Hopes for a Brighter Investment Future

Lviv Region in Double Logistics Boost

goods train logistics

Polish Labour Market Deficits Are Impacting All

Construction site with crane and building. Construction site in western europe - in Poland.

Poles Still Keen on German Jobs

Brandenburg Gate in Berlin in Germany. The Brandenburg Gate is a triumphal arch a city gate in the center of Berlin. It is one of the most known sites in Berlin.

Hungary’s Solar Dreamer

hand sun and blue sky with copyspace showing freedom or solar power concept

The Reality in Romania Exposes False Perceptions Of The Country

Poland Stays Cool on Euro Adoption

Euro cash and Zloty on one photo.

Bulgaria’s cooperation with Israel could boost the economy

Digital Business Space Gives All Businesses an Office in Sarajevo

Sarajevo Bosnia and Herzegovina - August 24 2015. View from Vraca Memorial Park with building of Avaz Twist Tower

Baltics Seek Lockstep With High Tech States

Euro money: Macro view of euro coin and bill. Suitable for financial, monetary, euro or European Union concepts and ideas

Investigations Into the Corrupt Ukrainian Fuel and Energy Sectors

Ukrainian money hryvnia. The national currency. Corruption in Ukraine

Ukraine’s Finance Ministry Wants Urgent Tax Reform

After Economic Shocks Armenia Plans for Macroeconomic Stability

yerevan armenia minister of finance

Derek Chollet: There Is a Resurgence of Supporters of the Transatlantic Relationship

white house

China Agrees to Build High-Tech Business Park in Serbia

BELGRADE SERBIA - SEPTEMBER 29 2016: View on the city center and the junction of Rivers Sava and Danube in Belgrade Serbia.

EU Membership and Transition into Market Economies Have Helped CEE Achieve Social Progress

Ukraine Is Offering Europe Unique Combat and Technological Experience

Kaczyński Defends PiS Record

Romanian Cabinet Reshuffled as New Splits Emerge in Ruling Party

BUCHAREST ROMANIA - MAY 25 2014: The Victoria Palace. Victoria Square.

Beyond Borders: Immigration Within the EU

refugees immigrants

Chickens Blamed for Romanian Budget Deficit

Two white chickens or hens inside a chicken coop or hen house seen through chicken wire.

Automotive and Transport Companies Dominate the CEE Region

Car bodies on the production line inside automobile factory

Georgian PM Reshapes and Reshuffles Cabinet

Giorgi Kvirikashvili

Emerging Europe Makes Great Strides in Improving Business Regulation for Entrepreneurs

Skopje Macedonia

CEE Nation Brands Still Behind Western Counterparts

TALLINN ESTONIA- JUNE 17: View of the modern high rise buildings on border with an old part of the city on June 17 2012 in Tallinn Estonia

Is Prague the New Face of Overtourism?

prague tourists

Visegrad Group Looks East

Baltic States to Launch Combined Capital Market

capital markets

Go East

Lviv Is the Pearl and the Soul of Ukraine

Montenegro Accelerates Legal Reform

montenegro law reform

Moldova Launches New e-Procurement System In Search For Positive Change

Photo team work process, holding contract hand, signs documents. Account managers young crew works with startup project.New idea presentation, analyze marketing reports.Blurred, film effect, horizontal.

Does the Sceptre of Separatism Haunt Emerging Europe?

Szekely Land Flag

Kraków: Officially Emerging Europe’s Most Elegant City

Krakow. Image of Krakow Market square, Poland during sunrise.

Belarus Steps Up Liberalisation of Business


Bloomberg Croatia Business Day 2015

Economic Confidence Rises Across Eurozone

Croatian Salaries Are Growing in Line With Other CEE Countries

Dubrovnik Croatia emerging europe

Belarus’ Economy Is Slowly Recovering From Past Declines

A Risky Evaluation of Croatia’s Economy?

ZAGREB, CROATIA - JULY 17, 2017: Square Ban Josip Jelacic with tourists and trams on a summer day in Zagreb. City of Zagreb is the capital of Croatia.

German Multivac invests €15 million near Sofia

IMF Believes State-Owned Enterprises Must Be Reformed

Image of the banknotes of new Belarusian banknotes five rubles put into circulation July 1 2016

EconMin: Bulgaria — Number One Outsourcing Destination And an Island of Stability in Europe

Investing in Ukrainian Food and Agriculture

Ukraine’s Economic Recovery: Good, But Slow

ukraine money

Chris Lowney — What Jesuit Spirituality Can Teach Us About Global Leadership

Bosnia and Herzegovina: Focussing on Stability and Business Climate

Sarajevo Bosnia and Herzegovina - August 23 2015. View of Miljacka River in Sarajevo city

Poland Is Set To Become a Large Economic Zone

Aerial view over the building materials processing factory. View from above.

EU May Offer Georgia, Moldova and Ukraine Customs Union and Schengen Access


Serbia, Belarus and Ukraine Ranked Lowly by Wharton Business School

Kyiv Ukraine - April 172017: The postal square in Kiev on Podol the Dnipro river. view of the square from the river panorama

Bulgaria: Real Estate’s New Frontier?

Georgia’s Growth Continues

Batumi, Adjara, Georgia - May 27, 2016: Batumi, Adjara, Georgia. Gogebashvili Street Road And Marine Station Or Maritime Station Building Batumi On Background

EY: Belarus’ IT Scene Is Thriving

High tech park minsk

Regional News Outlets: The Real Target of Poland’s New Media Law?

poland media

Sarajevo Stock Exchange Connected to SEE Link

sarajevo stock exchange

Air Passenger Volumes Reach Record High in the Baltics


Czech Republic Raises Interest Rates

czech koruna

Tech Giant Expands Romanian Operations

CEE Must Improve Infrastructure and Logistics

Aerial view of Gliwice Sosnica motorway junction. There are international traffic in four directions

New investors interested in Belarus’ Great Stone Industrial Park

Fitch And the World Bank: Economic Growth To Remain Solid Within CEE In 2016

Meghri Becomes Armenia’s Third FEZ

armenia emerging europe

Lithuania Handed Top Marks for Business Services

Beautiful panorama of Vilnius Old Town taken from Gediminas hill; Lithuania

Western Ukraine Could Be an Entry Point into the Country

IMF: Institutions Key to Sustainable Growth


Larisa Manastirli: Where is Bulgaria After Ten Years in the EU?

World Bank’s Doing Business Report 2016 Resume For Emerging Europe

Slovenia is the CEE region’s leader in VAT collection

More EU Help for Belarus SMEs

GRODNO BELARUS - DECEMBER 13 2013: Seamstress in textile factory sewing with a industrial sewing machine .

Romania Cuts Income Tax, Introduces Solidarity Tax

CLUJ NAPOKA ROMANIA - OCT 2 2016: People on the central street of Cluj Napoka - the unofficial capital of Transylvania.

Valga and Valka – Where Estonia and Latvia Work Together

Valga valka emerging europe

Euroscepticism in Serbia: An Image Problem?

CEE Emigrants Could Boost Their Countries’ Economies

Londoners walking through Millennium Bridge with St.Paul's Cathedral at the background after sunset - London, UK

Belarus is the most creative EEU country

Serbia Drafts New Competition Law

serbia belgrade flag

Despite Public Anxieties, Migration is Playing a Key Role in ECA Growth

Bratislava city aerial panoramic view. Bratislava is the capital of Slovakia.

PE and VC Investment In CEE Is At an Eight-Year High

venture capital

Romania’s Budget Deficit ‘Should Start Alarm Bells Ringing’

BUCHAREST ROMANIA - June 29 2017: Romanian Prime Minister Mihai Tudose during a swearing-in ceremony at Cotroceni palace in Bucharest capital of Romania June 29 2017.

Bulgaria and Romania Get EBRD SME Boost

Startup Diversity Teamwork Brainstorming Meeting Concept

Do Your Homework First and Starting Business in Poland is Easier

Estonia Leading CEE Country in WEF Competitiveness Index

pharmaceutical factory woman worker operating production line at pharmacy industry manufacture factory

Budapest’s Property Boom Goes Nationwide


CEE Boosted by Positive Tourism Trends Across the Region

cruise ship in Kotor Bay Montenegro. Aerial view panorama. Kotor bay Montenegro.

CEE Tech Growth Continues: Poland and the Czech Republic Lead the Way


GE Inaugurates Its New Bucharest Software Centre

Asian Outsource Developer Team Sitting At Desk Working Laptop Computer Mobile Application Software Real Office

Azerbaijan, Georgia, Turkey Launch New ‘Silk Rail’ Link

The Czech government attracts FDI and creates jobs

GSA Names Ukraine as UK’s Offshoring Destination of the Year

map of ukraine emerging europe

‘Traditional Values’: A Potent Weapon Against LGBT Rights

gay rights putin

Sunday Trading in Poland Under Renewed Threat

IMF Urges Croatia to Speed Up Reform


Slovenia Sets Green Vehicle Deadline of 2030


Czech Election Result Could Delay Euro Adoption Until 2025

czech banknotes nominal value two and five thousand crowns on white background. 300 000 Kc is approximately 12 450 US dollars (USD) or 11 100 Euro (EUR)

Chinese Electric Car Maker Seeks Emerging Europe Base

zhi dou d2

CEE Lags in Business Connectivity

ANIS romanian ICT

Estonia — Easy Doing Business Destination seminar in the UK

Jadranka Joksimović: Serbia Takes Its Candidacy of the EU Seriously


Estcoin: Estonia’s Own Digital Currency?

1 euro coin money (EUR) currency of European Union Estonia over blue background

World Bank: Brexit Hides Greater Challenges to the European Union and the CEE Region

Ukraine’s Q2 Growth Climbs

kyiv ukraine emerging europe

Kosovo: A Population of Talented Young Entrepreneurs Waits at Europe’s Door

IMF Increases Growth Forecast With Emerging Europe Prominent

Dambovita river and center of Bucharest at sunset time Romania.

Economy builds bridges in Mostar

UK Economic Growth Slows as Brexit Uncertainty Bites

flags of UK and EU combined over icons of London - Brexit concept

Estonia Proposes Bill of Rights and Responsibilities for Robots

Robotic hand accessing on laptop the virtual world of information. Concept of artificial intelligence and replacement of humans by machines.

Still Potential for Growth in CEE as Economies Stabilise

EU Commissioner Launches Veiled Attack on Poland and Hungary

eu commission

21st century Manufacturing Arrives at Great Stone

Great stone

IMF Wants Banking Sector Reform in Western Balkans

croatia national bank

EBRD Finances Small Business Support And Foreign Trade Promotion In Belarus

ICT Growth Continues to Boost Bosnian Economy

ict, it

Polish Shoppers in Hunt for Eggs

eggs in rack

Estonia Leads Baltics in Cutting Sugar in Food and Drink

Measure, Strengthen, and Grow

dacia brand

Poland’s Business Constitution Must Be Finalised

Front of finance ministry in Warsaw Poland with a fountain framing the entrance. Could be used for images about Euro currency problems

Merkel: Albania is taking big steps forward

Baltic Bank Merger May Tempt Polish Heavyweight

DNB Bank Vilnius

Belarus-Turkey Investment Forum to increase investment and trade between the two countries

Emerging Europe Makes Some Progress on Closing Gender Gap

world economic forum gender gap report

Ametek opened a new factory in Subotica

TV Still a Star for CME

Globalisation Needs to Work, Not Only for the Few but for the Most and in Demonstrable Ways

Global Spread

Budget Chaos Hits Romanian Leu

Different Romanian Lei Banknotes on the table

Georgia Leads Emerging Europe in Ease of Doing Business Report

Albania is creating three free economic zones

Continental Launch Largest Ever Lithuanian Greenfield Investment

kaunas lithuania

Plovdiv — an emerging outsourcing destination

CEE-Benefits and Disadvantages of Joining the Eurozone

forint zloty euro

Poland’s Flying Circus

airport poland

Belarus Introduces New Business-Friendly Auditing Procedures

MINSK, BELARUS - AUGUST 15, 2016: Aerial view of the southwestern part of the Minsk with Palace of Sport and old and new other buildings. Minsk is the capital and largest city of Belarus.

Hungary Today: Potential and Challenge

Chain bridge on Danube river in Budapest city. Hungary. Urban landscape panorama with old buildings and domes of opera

The Polish Government’s Mid-Term Report: Must Do Better

Front of finance ministry in Warsaw Poland with a fountain framing the entrance. Could be used for images about Euro currency problems

Lithuania Gives Innovation a StartUp

MILAN ITALY - MAY 2: People visit Lithuania pavilion at Expo universal exposition on the theme of food on MAY 2 2015 in Milan.

Why Was Zapad-2017 So Important?

russian tank belarus zapad

Bad Payers Still Causing Problems for Romanian Firms

Close up Romanian currency note, LEI or LEU, Romania

One in Five Poles Unaware of Source of Funds for 500 Plus Programme

CEE Is Key to China’s Belt and Road Initiative

Shanghai skyline Panoramic view of shanghai skyline and huangpu river Shanghai China

Trans Adriatic Pipeline Will Fuel Albanian Growth

Xanthi. Greece - July 30 2017: aerial view of construction of gas pipeline Trans Adriatic Pipeline - TAP in north Greece. The pipeline starts from the Caspian sea and reaches the coast of southern Italy

Retail Rents Rise Across Emerging Europe

Na Prikope Prague

HSBC Reports CEE Growth Surge in Q3

romania national bank

The Slovak Matchmaking Fair open for registration

Putin Urges Belarus to End Oil Transit Through Lithuania

Athens Greece - May 27 2016: Russian President Vladimir Putin delivers

Mayor: Armenia And Its Capital Yerevan Offer Safe Investment And Tourism To a Growing World

High Real Estate Prices at Home Force Czech Investors Abroad

Construction of the Petrin lookout tower in Prague Czech Republic

Albania’s Economy Booms Despite Political Infighting

Panorama view to the city Tirana Albania

Latvian Deputy Prime Minister Highlights Riga’s Potential


Economy Minister: Internationalisation Is the Key To the Slovenian Economy

Košice Business Matchmaking Event Brings in Hungarians

kosice, slovakia

Czechs Hold Emerging Europe’s Most Powerful Passport

Changes Are Making Ukrainian Banking More Aligned with International Standards

Emerging Europe Back on Track to Convergence


Albania’s Construction Sector Supports the Country’s Growth

SARANDA, ALBANIA - MAY 18: View of the city Saranda, most important tourist attraction of the Albanian Riviera on May 18, 2017 in Saranda, Albania.

Business Standards Are High in SEE But Vary Widely

Aerial view of The Cathedral of the Assumption in Varna

Growth Continues for State-Owned Azerbaijan Airlines

Azerbaijan Baku - September 16 2015: View of the Heydar Aliyev International Airport sign in Baku Azerbaijan. The airport is the home of Azerbaijan Airlines the national flag carrier.

Emerging Europe to Record Positive Growth Across the Board in 2018

coins growth

Lithuania Wants to Bring Home its Skilled Workers

VILNIUS - FEBRUARY 25: Many people choose books at the indoor book

Non-Financial Reporting No Longer a Secondary Consideration in CEE

Lech Wałęsa: Hard Options Can Force Nations to Get Down to Work

Škoda too Strong for VW Group

MLADA BOLESLAV CZECH REPUBLIC - MAY 30: Skoda Octavia on conveyor line during Doors Open Day at Skoda Auto a.s. factory. Skoda auto celebrated 120 years since its founding on May 30 2015 in Mlada Boleslav.

Slovakia: Growth Continues But Problems Remain

More Brexit Fears As the UK Proves To Be A Needed Member

City of London view from Waterloo Bridge. This view includes: St. Paul`s Cathedral The Gherkin Tower 42 and Blackfriars Bridge.

EU: Consumption Still Driving Growth

Romanian Car Maker Dacia Sees Sales Boom

Sables d Olonne France - May 07 2017 : Dacia Tour 2017 is a commercial operation organized by the car builder in order to present its cars throughout France - Close-up on cars

Ukraine to Make New Privatisation Push

Romanian Economy Grows Fast in 2017

Brasov cityscape panoramic and aerial view over medieval architecture of Brasov town, in Transylvania Romania

All for One, and One for All


Towards a resilient Europe, strategies for the future

Leave a Reply

Your email address will not be published. Required fields are marked *