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Gas Firms To Foot 66% Of Bill For Price Cap, Poland's GDP & CPI Due This Week

POLAND
  • DGP reports that gas firms will foot around two thirds of the bill for the 2023 price cap announced last week. Sources told the newspaper that the government is looking to implement a mechanism whereby gas companies will be obliged to pay windfall levy into a dedicated fund used to compensate them for losses incurred as a result of the price cap.
  • Tensions between ruling coalition partners continue. Head of Law and Justice party caucus Terlecki accused allies from Solidary Poland party of providing the European Commission with pretexts for taking action against Poland.
  • 68% of respondents in an oko.press survey said they hold negative or very negative assessment of the government's handling of economic challenges, including inflation. Growing discontent with the government's handling of the economy will be a headwind ahead of the 2023 parliamentary election.
  • Notable earnings reports today include CD Projekt and JSW as the earnings season in Warsaw draws to an end. Analysts cited by Parket point to a better than expected performance from the banking sector so far.
  • On the data front, focus turns to Wednesday's final GDP readings for Q3 and flash CPI readings for November.
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