Despite firms only need certainties, EU keeps deducting from Poland as a result of not complying with the judiciary. But Warsaw could spoil the Fit for 55 climate packages.
Poland has launched the Baltic Pipe, the infrastructure which will deliver 6.5 billion cubic meters of Norwegian gas in 2023.
Despite retail sales in Poland rising by 4.2% YoY in August, with the inflationary everything-bubble prospects for upcoming quarters are deteriorating.
Polish industrial production grew by 7.6% YoY, thus decelerating rapidly in recent months. The economy and the labor market must adjust to a new energy shock.
In Poland, June CPI rose to 15.5% YoY, where energy carriers were 35.1% more expensive than a year earlier, with fuels +46.7%.
Upward pressure from commodity prices continues and symptoms of a marked economic slowdown are visible in the construction industry.
In Poland, second-round effects thrive in an environment of expansionary fiscal policy, buoyant wages growth, and consumption boom.
The Bank of Poland takes its main rate to 4.5%, projecting 6.5% this year and 7.5% in 2023. Meanwhile, companies are passing higher costs on to CPI.
As coal has the biggest potential to lower gas demand, Poland wants to use it to produce electricity after 2049 to bolster its energy security.
The conflict in Ukraine has created another excuse to blame inflation on oil and natural gas, rather than the increase in the money supply.