Winter weather has high price tag

19th February 2010

The severe weather could affect growth this year

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This winter's low temperatures and heavy snowfall have cost the Polish economy as much as PLN 1.5 bln, with bad weather hampering transport and construction work grinding to a halt nationwide.

Economists surveyed by Gazeta Wyborcza estimated that this year's harsh winter could shave as much as 0.5 percent – or PLN 1.5 bln – from 2010 GDP.

Home builders have been among the hardest hit by the freeze. The GUS report showed that work was started on 4,450 flats in January, little more than half the number from one year ago and a quarter less than in December 2009. In addition, 11,600 flats were completed, some 30 percent less than last year.

According to the Central Statistics Office (GU ...

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