November 18, 2019 / 7:15 AM / in a month

Poland - Factors to Watch Nov. 18

WARSAW, Nov 18 - The following are news stories, media reports and events which may affect Poland's financial markets on Monday.

PKO BP

PKO BP, Poland's top state-run lender, on Monday said by 2022 it aimed to have a return on equity (ROE) of 12% and a net profit above 5 billion zloty ($1.29 billion).

STATE BUDGET

The ruling nationalist Law and Justice (PiS) party is looking to increase budget revenue to finance its election promises. It plans to rise the excise tax and the amount of high-earners pay to the state pension fund and wants to release money from the so-called Solidarity Fund, the Rzeczpospolita newspaper reported.

VAT MAFIA

Prosecutors have evidence on how high-profile officials at the finance ministry shared their illegal profits when they led the so-called VAT mafia, a group of people who made money on extorting VAT tax from the state, the Rzeczpospolita newspaper reported.

TAURON

Tauron Wydobycie, part of top energy firm Tauron, will not close any of its coal mines, Chief Executive Tomasz Cudny told the Rzeczpospolita newspaper. The company is struggling to make a profit on mining.

NUCLEAR PLANT

Poland's first nuclear plant will be based U.S., Korean or French technology, but the U.S. one is preferred, the Dziennik Gazeta Prawna daily reported, quoting unnamed sources.

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