2018-04-12 | 06:00Economy
Only one in three children in Poland get pocket money. The lack of financial education leads to bad habits in the future
Most parents do not include their children in money-related discussions and home budget planning, and only one in three children get pocket money. Meanwhile, giving children even low amounts on a regular basis can become a good lesson for them on how to manage their own money. When it comes to older children, as highlighted by a specialist from Goodwill Consulting, it is worth replacing the piggy bank with a simple bank account to show the child in practice what saving is all about and how the accumulated capital is increased by interest.
2018-04-06 | 05:55Economy
PFR’s President: Banks are facing a great threat. They have to compete not only with each other, but also with financial services providers
“Poles have been exceptionally quick to embrace new financial and payment technologies. Among other factors, this has made Poland’s retail banking, payment system and credit products some of the most unique globally,” observed Paweł Borys, President of the Polish Development Fund. This has opened up a vast space for fintechs – innovative financial start-ups which are starting to challenge banks. Blockchain, the technology behind cryptocurrency, will be one of the leading technologies to change the financial services sector in the years to come.
2018-04-05 | 06:00EU funds
80% of Poles assess the outcomes of EU funds use in a positive way. References are mainly made to new investment projects and economic growth acceleration.
Over 90% of Polish communes have benefited from EU funds, as a result of which a vast majority of Polish people act as beneficiaries of EU resources. For this reason over 80% of of Poles assess the outcomes of the EU funds use in a positive way, as revealed by SW Research in its surveys conducted for the European Commission. Two-thirds of the survey participants have stressed that investment projects improving the road and infrastructure condition have the biggest impact on the development of their immediate surroundings. Under the current financial perspective, Poland has been the main beneficiary of EU resources.
2018-04-05 | 06:00Trade
NBP: This year, consumer prices will grow at a slightly faster rate than a year before. They will be driven up primarily by growing food prices.
According to the latest National Bank of Poland inflation report, this year prices in Poland will grow at an average rate of 2.1 percent. This is less than expected in November, when inflation was predicted at 2.3 percent. At 3.3 percent, food prices are expected to increase the most. However, the projected GDP growth has been revised upwards.
2018-03-24 | 06:00Industry
Record-breaking results of Polish exports. Domestic producers are becoming increasingly competitive on foreign markets
In 2017 Polish companies exported goods with a value exceeding EUR 203 bn, and this year the results may be equally favourable. The economic situation of our major recipients in the EU is improving, and consumer and producer sentiments are on the rise. Machinery parts and food are our export hits, but, as experts point out, Polish exports are diversified and do not rely on a specific group of products, while domestic companies often find their market niches. In the years to come, even if the growth rate in exports decelerates, the share of Polish producers in the global market will still increase because of the relatively low prices.