The following Commercial practice note Produced in partnership with Wardynski & Partners provides comprehensive and up to date legal information covering:
Updated August 2020
The Polish economy not been left unscathed by the coronavirus (COVID-19) health crisis. Like in most EU countries March, April and May 2020 saw a lockdown of everyday life, and with it of many businesses. The government proceeded to introduce relief packages aimed at helping those in need. The prognosis at the beginning of the outbreak were grim with GDP growth at below 0%.
At the moment of writing this comment the situation does not seem as bad and voices can be heard that the worst is already behind us, however, all is definitely not back to normal. Poland has not withstood the crisis as it did in 2008-2009 as those sectors that kept the economy going before (household spending and export) have been seriously affected this time.
Overall, it goes without a doubt that the economy will take a notable hit in 2020, hammered by social distancing measures and business closures. Rising jobless numbers and weakening wage dynamics will likely further constrain household spending, while evaporating external demand and the uncertain health perspectives weigh on investment decisions. Expert analysts see the economy contracting 4.1% in 2020 and growing 4.4% in 2021.
Polish commercial law offers several different options for conducting business in Poland. The legal options described in this guide serve to present the most popular possibilities and should not be
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