Polish Briefing 24 May, 2017 9:30 am   
Editorial staff

Polish Briefing: EC recommends that Poland should increase retirement age. Polish businesses are growing thanks to migrants from Eastern Europe

What goes in Poland on 23rd of May.

EC recommends that Poland should increase retirement age

The EC’s European Semester 2017 Spring Package says that Poland should “take measures to increase the effective retirement age.”

Other recommendations include improving public spending efficiency, limiting reduced VAT rates and removing investment barriers.

“Ensure the sustainability and adequacy of the pension system by taking measures to increase the effective retirement age and by starting to reform the preferential pension arrangements,” the report advised.

The EC pointed that the labor market needed improvements as well.

“Take steps to increase labour market participation, in particular for women, low-qualified and older people, including by fostering adequate skills and removing obstacles to more permanent types of employment,” said the report.

The authors of the package pointed out that in 2018 Poland should make significant efforts to improve its fiscal situation. “Take steps to improve the efficiency of public spending and limit the use of reduced VAT rates,” recommended the report.

The EC also advised that Poland should “Take measures to remove barriers to investment, particularly in the transport sector.”

Polish businesses are growing thanks to migrants from Eastern Europe

Real estate agencies and network operators have already noticed the new clients. Soon other sectors will be interested in Ukrainian wallets.

Ukrainian clients caught the eye of the real estate sector, especially its agencies. The Metrohouse chain, which is present in 52 Polish towns, launched a website in Ukrainian in the spring. Before that it had employed Ukrainian and Russian speakers in the biggest towns in the eastern part of the country. At the beginning of the year another chain – Home Broker, launched a marketing campaign targeted at Ukrainian citizens.

The ever increasing migration from Ukraine, which last summer reached its market peak at 1.3 million people is a coveted prize in the market.

It developed cheap money transfer market. The transfers are offered by Western Union and a new player – Meest Transfer. Banks are also noticing the new Ukrainian clients. PKO BP declared it was planning to launch dedicated sales for that target group. Currently the bank is offering, among others, discounted prices for transfers to Ukraine. BGŻ BNP Paribas has a website in Ukrainian and employed Ukrainian and Russian speakers as consultants. BZ WBK is working on making available telephone service in those languages.

Network operators spotted the Ukrainians quite quickly – two years ago. T-Mobile’s Heyah was the first one to offer special rates for phone calls to Ukraine. Klucz Mobile, an online network operator is also fighting for the new client. Since April 2013 the company has been offering calls for foreigners from the east.

Easier to recover money

The Polish President submitted a bill to the lower house of the parliament – the Sejm. The bill makes it easier to recover money if they are transferred to an incorrect bank account. The project was drafted together with experts of the Financial Ombudsman.

The bill stipulates that the person who entered the wrong bank account number while making a transfer should inform their financial institution. Within three days the bank should notify the person who received the money by mistake, that they need to return it within 30 days. If this does not happen, after 30 days the bank will have to reveal who received the transfer, so that the person who made the mistake would be able to file a lawsuit.

Today the person who incorrectly transfers money cannot find out who received it.

The proposition has been consulted on with financial market institutions. The president’s chancellery stresses that this is not a political project. They are hoping that the MPs will adopt it before the parliament’s summer recess.

Belarusians want energy cooperation

The Polish-Asian Chamber of Commerce’s Customs Union Section – Belarus, organized a meeting with CEOs from Beltopgaz and Belgazstroj, Belarusian service and assembly companies in the gas sector.

The parties discussed participation of Belarusian specialists in projects in the Polish construction sector as well as further steps and directions of cooperation. On 24 May interested Polish companies will be able to meet with the Belarusian concerns for individual discussions.