Special Report | 28.01.2026

4 months ago

Ten economic questions for 2026-2027

As last year’s market and economic turbulences fade away, time has come to make up for setbacks and delays and to fulfill pent-up demand. The year 2026 should prove more favorable both for the global economy and for Poland. We expect Polish economy to expand by 4%, and an even stronger outturn would not come as a surprise.

Special Report | 10.06.2025

1 year ago

Poland's moment. From Rising Riches to a Smart and Resilient Future

For years, Poland has impressed with its dynamic growth, increasingly cited around the world as a model of successful transformation — and at times, even an economic miracle. This success is no accident, but the result of the sustained efforts of millions of people, businesses, and institutions. In our latest report, we highlight the country’s achievements to date and set out ambitious goals for the decade ahead.

Poland can only benefit from EU rearmament plans

Germany announced a debt-fueled infrastructure and defense package worth even 20% GDP. It seems like a watershed moment – weak domestic demand and tight fiscal policy in German has long been identified as a big problem for Germany and the euro area. Importantly, it will spill over to its main trade partners and Poland will benefit from higher external demand. In our view, European rearmament ensures that Polish GDP will grow at a 4%+ pace beyond 2025.

Economy in Focus | 19.06.2026

10 hours ago

Domestic growth drivers are propelling Polish industry

Industrial production rose by 4.1% yoy in May, beating consensus (2.5% yoy) and our forecast (3.4% yoy). The negative effects of the war in the Gulf are, for now, limited mainly to rising costs and reduced availability of components and raw materials in certain segments. Production itself remains strong. In our view, investment demand deserves much of the credit for this.

Special Report | 15.06.2026

4 days ago

Why Poland Matters Now

Poland’s economic success is set to continue for another decade or more. It will be supported by three key factors. First, Poland will be at the centre of Europe’s rebuilding of its defence capabilities. Second, it is Europe’s largest energy construction site, which puts it in a strong position in the race to attract AI data centres. Third, Poland will benefit from Europe’s new industrial policy, aimed at containing China. We discuss all of this in a report prepared for the Pekao & BofA Capital Markets Conference in London on 15–16 June 2026.

Weekly | 15.06.2026

4 days ago

Markets elated about the US-Iran deal

This will be quite a calm week in Poland and quite busy abroad. Markets will focus on Fed, BoE and Swiss National Banks meetings. The agreement between USA an Iran should keep investors optimistic, which will help Polish assets.

Monthly economic update | 10.06.2026

1 week ago

Rising hawkish tide leaves the NBP behind

MacroCompass June 2026 - our picture of Poland's economy, macroeconomic forecasts, preview of monthly data readings and the expected scenario of events on financial markets

Weekly | 08.06.2026

1 week ago

Feeble consumption growth in 1Q26

A calm week ahead, most awaited event is the ECB’s rate decision (we expect a 25bp hike).

Weekly | 01.06.2026

2 weeks ago

Poland's MPC will remain dovish despite ECB's hawkish turn

In an unusual scheduling arrangement, Poland’s Monetary Policy Council will announce its interest rate decision on Tuesday. However, no changes to policy rates are expected.

Polish Economy: Macroeconomic Research and Analysis - Bank Pekao S.A.