7 reasons why our firms won't be affected by crisis

MAG

opublikowano: 2008-10-10 13:28

Warsaw (Puls Biznesu) - Experts calm down: despite worldwide turmoil, Polish companies will have access to capital and billions of euro of EU funds. Their finances are healthy while decreasing oil prices will make it easier for them to control costs. Strong demand will boost their sales within the country and weaker zloty will support their sales abroad. Even the homebuilding sector will somehow manage to avoid bigger problems.

“I advise to be cautious but at the same time optimistic. As far as economic stability is concerned, Poland is much better than Western countries”, Ryszard Petru, Bank BPH chief economist said.

Several weeks ago, he expected GDP growth in 2009 of 4.5 percent, he cut it down to 4 percent.

“We don’t have any crisis, we have economic slowdown”, Malgorzata Krzysztoszek, expert of PKPP Lewiatan said.

Analysts believe that the Polish banking sector is safe.

“We didn’t have subprime market in Poland, and Polish banks are not affected with the virus. There will be no bankruptcies and credits will continue to be offered”, Lukasz Tarnawa, PKO BP economist believed.

Consumer spending will not drop.

“Wage raises may slow down a little but the Poles will continue to get richer. Strong demand won’t disappear within a day”, Pawel Majtkowski, Expander analyst commented.