Investment in Poland gaining pace?

Central Statistical Office published first data on investment in November 2016. The numbers came as a bit of a surprise to many economic experts.

Deputy Prime Minister Mateusz Morawiecki, the person in charge of both the Ministry of Finance and the Ministry of Development expressed a belief that first half of 2017 will show an increase in investment in Poland. The minister is certain a boost in investments will appear no later than in the third quarter of the upcoming year.

Investment data has not been good recently. In fact, Poland has been experiencing a slowdown in this area. Opposition criticizes the government for the negative trend. The ruling party highlights the fact that we are having less optimistic news on economic data coming from all countries in the region and the entire European Community. Poland’s situation is nothing unusual.

Many experts noted that public investment is down as well as private investment. Our weak point is spending money from the EU funding. Although this is the case, the government guarantees this is soon to change and numerous public projects will be soon launched. The Ministry of Development is working on legislation that will simplify the procedures connected with receiving public funding.

Deputy Minister of Development Jerzy Kwieciński expressed a view that the country in 2017 will move back on track. He also highlighted the positive outlook of the labour market: Poland is currently enjoying a period of very low unemployment and rising wages.

Good news is coming from Central Statistical Office (GUS). Key economic data for November 2016 are looking better than expected. There has been growth reported in such areas as production and retail sales. There are positive figures coming from the construction industry. The GDP may soon go back on the path of growth, despite unfavourable October data that showed the economy was cooling down.