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GDP Growth May Approximate 7% YoY in Q1

POLAND
  • PM Morawiecki said in Brussels last week that he sees progress in talks on unlocking EU funds. Chances are now slightly higher for unlocking the funds according to Polish PM.
  • On Friday, Polish President Duda nominated Ireneusz Dabrowski and Henryk Wnorowski as new MPC members this morning. Dabrowski is economy professor at Warsaw School of Economics and Wnorowski is economy professor at Bialystok University.
  • President Duda also mentioned in in conference that the situation in Ukraine is “serious” and approaching “a critical point”.
  • Last week, economic data showed that Poland PPI inflation accelerated to 14.8% YoY in January (vs. 14.4% exp.), up from revised 14.4% the previous month.
  • Average corporate wages decelerated to 9.5% YoY (vs. 10.1% exp.), down from 11.2%.
  • This morning, Development & Technology Minister Piotr Nowak wrote on Twitter that Poland’s GDP growth may approximate 7% YoY in Q1 given the higher-than-expected increase in industrial production on Friday. Industrial output rose by 19.2% y/y (vs. 14.7% exp.).
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