Wages, employment up y/y in Poland in February: stats office

Average wages in Poland rose 7.7 percent in February compared with the same month a year earlier, the country’s Central Statistical Office said on Wednesday.

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The average gross Polish monthly wage in February was PLN 5,330.48 (EUR 1,191, USD 1,308), the state-run statistics agency reported.

Meanwhile, employment in Polish companies increased 1.1 percent last month on average in year-on-year terms, according to the statistical office.

The figures are for firms with more than nine employees.

The Polish economy grew 3.2 percent in the final quarter of last year and expanded by 4 percent in 2019 as a whole, according to the Central Statistical Office.

Poland’s central bank earlier this month warned that there was a risk that Polish GDP growth this year could be dampened by a “possible further weakening of business conditions in the world economy.”

One of the risk factors “is a longer and possibly more dramatic course of the coronavirus epidemic,” the National Bank of Poland (NBP) said in its latest Inflation Report.

The Polish central bank on Tuesday moved to cut its key interest ratesin a bid to counteract the impact of the coronavirus.

Poland’s authorities were on Wednesday expected to unveil a multibillion stimulus package to shore up the country’s economy amid an intensifying coronavirus outbreak.

(gs/pk)

Source: PAP

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