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POLAND: PiS Finances Remain Under Scrutiny, Indian PM Modi Arrives In Poland

POLAND
  • Recent source reports suggested that the National Electoral Commission (PKW) will likely reject the financial statement submitted by the main opposition Law and Justice (PiS) party after last year's election. However, OKO.press signalled that the PKW remains divided on the matter, with the decision due next week. Consecutive delays to the decision whether to accept the statement and disburse (or not) a subsidy to the party is reportedly affecting its financial liquidity. Money.pl reported that the party is closing some of its regional offices to improve its position amid ongoing talks with its creditors. On the other hand, RMF FM downplayed the significance of potential penalties, suggesting that the reduction of the party's subsidy may be smaller than expected.
  • Prime Minister Narendra Modi arrived in Poland for a state visit as the first Indian leader to do so since the collapse of communism. He will meet with President Andrzej Duda and Prime Minister Donald Tusk, with the leaders expected to sign documents laying the groundwork for a strategic partnership. Poland is also looking to present its views on the ongoing Russo-Ukrainian war, before Modi heads to Kyiv towards the end of the week.
  • Statistics Poland will release data on retail sales and construction output in July at the top of the hour. Retail sales may have increased by 6.0% Y/Y, while construction output growth is expected to print at -2.3% Y/Y, according to a Bloomberg survey. Consumer confidence data for the month of August will cross the wires at the same time.
  • The National Bank of Poland (NBP) will today release the minutes of its monetary policy meeting held in July. NBP minutes rarely move markets due to the significant delay in their release relative to the date of the meeting.
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