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Poland’s welfare index down in April

Analysis

Photo by Stockcrafterpro / Shutterstock.com

The welfare index, which reflects the economic condition of Polish society, went down by two points month on month in April 2020, the Bureau for Investments and Economic Cycles (BIEC) said, as cited by portal Thefirstnews.com. 

Photo by Stockcrafterpro / Shutterstock.com

BIEC reports that this was the second rapid collapse of the indicator in recent times. The first appeared two months ago and was associated with the slowdown in the economy at that time. The current decline is directly related to the effects of the pandemic.

“Real wages have increased slightly over 1% over the past year, while their growth was negative for the second month in a row. The lack of a sharp break in the average salary is most likely a result of the fact that additional remuneration, the so-called ‘13th salary’, is paid by many companies, especially in the public sector, where it is usually paid out at the end of the first quarter,” BIEC was quoted as saying by Thefirstnews.com on April 22.

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