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Wage rises outpace inflation

PR dla Zagranicy
Nick Hodge 21.01.2014 11:29
The average wage in Poland's business sector in December 2013 was 2.7 percent higher than in the same month the previous year.
Photo: GlowimagesPhoto: Glowimages

Photo: Glowimages

Data released by Poland's Central Statistical Office (GUS) confirms that the average gross wage in Polish firms in December 2013 was 4221.5 zloty (1013.7 euro).

However, in the context of inflation, the rise is by 2 percent.

Simultaneously, GUS noted that the number of Poles employed by firms in December 2013 was slightly higher than in the previous year, with the level rising by 0.3 percent, taking the number to about 5.5 million people.

Pawel Cymcyk of investment fund firm ING TFI told Polish Radio that in the first half of the year particularly, Poles can expect continued growth, at a rate of about 1.5 percent to 2 percent, year on year.

He said this was in line with overall forecasts for Poland's economic growth. The World Bank has estimated that Poland's GDP will rise from 1.5 percent to 2.8 percent in 2014. Meanwhile, inflation and interest rates are expected to remain low. (nh)

tags: growth, wages
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