High voter turnout
It is worth noting that the elections were held with a record turnout - as many as 73% of eligible voters took part. The previous record was 62%, set in 1989, during the first free elections after the fall of communism in Poland.
Election results
According to preliminary results, although the Law and Justice Party (PiS) won the elections to the Sejm, winning almost 36% of the vote, it will not be able to govern on its own or form a coalition that would give it at least 231 seats in the 460-member chamber. In this situation, the new government will be formed by a coalition of three opposition parties - the centrist Civic Coalition and Third Way and the leftist Left.
Positive reaction from financial markets
The global financial market reacted positively to the results, and the zloty has strengthened against the US dollar since Sunday. One of the new government's first steps is likely to be the unblocking of EU funds from the National Reconstruction Program. At stake are more than 35 billion euros in grants and loans from the EU to rebuild the economy after the pandemic. The funds have been blocked by Brussels because of objections to meeting so-called conditions, including on the rule of law - PiS tried to limit the independence of the courts, which was met with strong protests in the EU.
Cooperation with the European Union
The new government will certainly seek full cooperation with the European Union, which should finally dispel rumors of a possible "Polexit." Although the Law and Justice government has never articulated this expositionally, it exploited anti-EU sentiment in communications before the elections and has repeatedly quarreled with Brussels.
Benefits for companies
Entrepreneurs doing business in Poland will certainly be pleased with the end of PiS's efforts to raise taxes for entrepreneurs (such as plans to tax PRS entities) and raise the minimum wage. One thing that remains a mystery is the future policy of the Monetary Policy Council, which is responsible for interest rates and whose chairman and much of its composition must remain in office and is known to have supported the previous ruling camp.
Impact on the storage market
The change of government may also have an impact on the warehouse market in Poland. First and foremost, the end of the PiS government may mean a reduction in political uncertainty and legal stability, which is important for investors and companies operating in the warehouse sector. It is expected that the new government will seek to improve investment conditions and attract more foreign investment.
Prospects for the warehouse market
The outlook for the warehouse market in Poland remains promising. Poland has gained the status of an important logistics hub in Europe, due to its favorable geographic location and developed transportation infrastructure. The change in power should not negatively affect the long-term development prospects of the warehouse sector.
The change of power after the parliamentary elections in Poland has a positive impact on foreign investors and entrepreneurs. The new government is expected to seek full cooperation with the European Union, which should finally dispel rumors of a possible "Polexit." For the warehouse market, the outlook remains promising, and a reduction in political uncertainty could attract more foreign investment. Now it remains to watch how the new government will affect the development of this sector in Poland.
