Page 12 - Sample PRO weekly report Poland

Poland to expand defence budget to 2.5% of GDP by 2030
Poland plans to increase defence spending to 2.2% of GDP in 2020 and 2.5% by 2030, according to a draft bill on modernisation and financing of the armed forces that was published on April 21.
The plan is intended to help ensure the US will persist with its commitment to strengthen Nato’s eastern flank, according to the draft. Nato has stepped up its presence in Central and Eastern Europe since Russia's annexation of Crimea in 2014, but Warsaw is concerned Washington may lose interest if local spending stagnates.
US President Donald Trump has regularly criticised Nato members that do not meet the recommended defence spending target of 2% of GDP. Poland is one of the few alliance members that does fulfill the target. Warsaw is also eyeing a number of large military purchases, including the US-made Patriot missile system.
In line with the proposed law, Poland will increase defence expenditure to 2.1% of GDP in 2019, and then add 0.1pp to the budget each year until reaching 2.5% in 2030. In nominal terms, the plans mean spending PLN117.5bn (€27.7bn) more on defence by 2030, according to the draft bill.
Poland's GDP grew only 2.7% in 2016, but is expected to accelerate to over 3% in the coming years. Recent macroeconomic data suggest the pick up is already under way.
Play is considering an initial public offering as an option to ensure further growth, the Polish mobile operator said in a market filling on April 21.
Play's owners - billionaires Icelander Thor Bjorgolfsson and Greek Panos Germanos - have long sought an exit route. Despite hinting at a float in early 2016, the pair then attempted instead to sell directly to institutional investors. However, that effort was cancelled in October after a number of unsatisfactory bids.
“After 10 years of developing Play into a leading Polish mobile operator, the shareholders and management ... are reviewing the best options to set the company up for its next stage of growth. A possible option could take the form of an initial public offering,” the company said in a statement.
Play has a share of just over 26% of the Polish mobile market. The company’s operational sales grew 12.5% to PLN6.1bn last year. EBITDA grew 14% to PLN2bn.
Polish mobile operator Play revives IPO talk
This PDF is intended for Ben Aris at Intellinews.
Systematic forwarding is a breach of subscription compliance obligations.
Written by bne IntelliNews, New Sparta Media and Emerging Markets Direct Media Holdings LLC. We make no warranty, express or implied, as to the accuracy or completeness of the information. The views expressed reflect our best judgment as of the date of publication and are subject to change without notice. Opinions are not necessarily those of New Sparta Media, Emerging Markets Direct Media Holding LLC or its affiliates. New Sparta Media and Emerging Markets Direct Media Holdings LLC and take no responsibility for decisions made on the basis of these opinions. Unauthorized redistribution of this information is strictly prohibited.