Poland’s Gross Domestic Product rose 4.8% year over year in Q3 2008, comparing to a 5.8% y/y growth in Q2, reported the Central Statistical Office (GUS). The main driver of the increase is still domestic demand, which went 4.3 % up in relation to the same period last year. For the first time in the past two years a positive impact of foreign demand on the economic growth has been observed too: 0.3 percentage points, comparing to –2.3 points in Q3 2007. Economists had expected GDP to increase 4.7%. Source: onet.pl

Since 2004 as many as 157 thousand of the unemployed people have been awarded grants by job centres for starting up a business. Every third of them not only continues running the activity, but has employees as well, shows a report by Gazeta Prawna. The maximum amount that a jobless person can obtain is PLN 14.8 thousand. The assistance scheme enabled founding 27.9 thousand companies in 2005 and 37 thousand in 2008. Job centres reckon that by the end of the year there will be about 50 thousand of them. For grants to the unemployed the Labour Fund will allocate the total of PLN 728.7 million in this year and PLN 795 million in the next. Source: gazetaprawna.pl

In November 2008 the total liabilities of people who failed to repay their debts within 60 days exceeded PLN 8 billion, shows the latest study InfoDług, published by InfoMonitor, the economic information centre. Analysts have discovered that in Q3 2008 the sum rose twice as fast as the average of the past five quarters. An average of 3% of Poles fall behind with their debt instalment payments. Over the past 15 months the average debt grew by PLN 1.4 thousand, that is 28%. Presently it amounts to PLN 6.4 thousand. Source: onet.pl

The Energy Regulatory Office (URE) is thinking of reinstating the power price tariffs for the industry, informed Mariusz Swora, URE’s president. Ultimate decision should be made by the end of 2008. At present industrial companies negotiate power charges individually. Recently power suppliers have demanded a sizeable 62% price rise, while distributors – from 9% to 25%. There have been 14 motions filed altogether. If accepted, they would result in 26 – 42 % rises in power prices. The new rates may come into force on 1 January 2009. Source: wnp.pl

The number of teleworkers has increased five times this year, shows PBS DGA research, made for Gazeta Prawna and and CMS Cameron McKenna. However, as many as 42% of Poles have never heard of this type of employment. 71% of the respondents indicate that the work they do could not be done from home. Insiders explain that growth in popularity of telecommuting results from amendments being made to the labour code. Employers and experts suppose that e-work will be more and more popular, especially with artists, journalists or architects. Source: gazetaprawna.pl

Prowell, German corrugated sheetboard maker has launched construction of a plant in Stryków, Łódź Special Economic Zone. The investment value is PLN 162 million. In the new factory the concern will manufacture about 140 thousand tons of cardboard a year. The plant will have an automated warehouse to enable loading 100 lorries a day. 50 people will be taken on. Source: paiz.gov.pl

Interferie, a tourist company belonging to KGHM group, intends to invest PLN 100 million in building a spa in Świnoujście. „Barbarka II” health resort will be the company’s largest hotel of this type. In season it will be able to hold up to 600 people. It will come in place of „Eldorado”, a hotel to be pulled down, which Interferie bought in June 2007 for PLN 19 million. On the 1.8 ha site will be built a new hotel, holding over 300 rooms, swimming pools, conference lounges, rehabilitation facility and spa. Source: wnp.pl

PKP Cargo, railway carrier of goods, and companies of ArcelorMittal steelwork group have signed contracts for complex transport services worth about PLN 1 billion. The agreements oblige PKP Cargo to carry the total of about 45 million tons of loads for ArcelorMittal’s firms over the period of three years. Those will be both ready-made products and raw material for steel manufacturing. ArcelorMittal group shares about 70% of Poland’s steelwork industry production potential. It is one of PKP Cargo’s key business partners. Source: pb.pl

Eight consortia have enrolled for the first stage of the tender for building the above-ground part on the National Stadium in Warsaw. The deadline for submitting bids was Thursday, 27 November 2008. Among the requirements for each of the bidders to meet is experience in building large stadiums and a credit rating on the level of PLN 120 million. Participating in the tender are consortia including: Pol-Aqua, Budimex Dromex and Hydrobudowa, among other companies. Contract with the winner will be signed in April 2009. The same month will also see launch of building work, which is planned to last until the middle of 2011. Source: interia.pl

The European Commission has brought an action against Poland to the European Court of Justice. The accusation is that Poland’s applying low charges for children’s shoes and clothes is against the union’s VAT regulations. The VAT rate that Poland puts on the articles is 7%, while it should be 22%. „The European Commission is in favour of social and pro-family policies, which partially is the EU’s response to the problem of aging societies. Nonetheless, applicable VAT regulations should be the same union wide”, wrote the commission, justifying its petition. Source: gazeta.pl

10.2 million tourists visited Poland in January-September 2008 period. This is 12% less than in the first nine months of 2007, estimated the National Tourism Institute. Among the old union nationals visiting Poland in the analysed period were: Germans – 3 million 790 thousand (7% y/y fall), Brits – 395 thousand (5% growth), Dutchmen – 270 thousand (5% fall), Austrians – 225 thousand (5% fall), Italians – 210 thousand (14 % fall), Frenchmen – 160 thousand (14 % fall) and Swedes – 140 thousand (13% fall). Source: pb.pl