Poland Economic Update June 2009

23-06-2009 According to the latest data from the economics ministry, GDP growth for Poland in 2009 is expected to be between zero and one percent. This puts Poland in a very exclusive club, as very few developed countries in the world will experience positive GDP growth in 2009. Looking ahead, the government has announced the approval of a draft budget for next year, which is based on an expected 0.5% GDP growth and 1% inflation. Amid the global economic crisis, the government expects unemployment to rise to 13.8% by the end of 2010 and corporate employment is expected to fall by 2.8%.

Fiat to increase investment in Bielsko-Biala

09-03-2009

According to news reports in recent days, Fiat is set to invest a further 400m EUR in its existing plant in the southern Polish city of Bielsko-Biala. The current factory, which produces more than half a million diesel engines annually, is to be converted to produce the company's new 0.9 litre fuel-efficient petrol engine. It is not thought that new jobs will be created by the investment, but that the current 1400 jobs will remain. It is also positive for the many smaller companies in the region which supply Fiat with various parts.

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