Michael Dembinski
Beating analysts’ and indeed ministers’ expectations, official figures for Poland’s economic growth for the second quarter of this year are very positive. GDP grew by 3.5% year on year.
To Deloitte’s Warsaw HQ this morning for the latest meeting of the BPCC’s HR Policy Group, at which Deloitte unveiled the results of its survey of Polish students’ attitudes towards the labour market. The results should be a wake-up call for any company looking to recruit graduates in forthcoming years.
The latest trade figures from the Office of National Statistics show a huge surge in bilateral trade between the UK and Poland, as usual with Polish exporters showing more dynamism than British ones. Nevertheless the trade stats are most encouraging.
The government has announced that the basic rate of VAT is to go up in the New Year from 22% to 23%. VAT on unprocessed food (milk, fruit, vegetables etc) is to go up from 3% to 5%, while the VAT on processed food (sausage, cheese etc) will go down from 7% to 5%. The rate for medicines, rent, water and waste collection will rise from 7% to 8%. All of this is expected to bring in 5 billion zlotys. But is it enough?
Any ex-pat Brit living in Poland will bemoan the absense of certain comfort foods from home, which are noticably unavailable on Polish supermarket shelves. But why is this? I spent two hours this morning with Jeff Bean, International Trade Adviser from UK Trade & Investment’s North Eastern Region international trade office.