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Polish government will not intervene in currency markets

Złoty is weakening by the day in December.

Polish zloty has been weakening ever since weak GDP growth figures of Q3 were announces in mid-November, Since then OECD has lowered economic growth expectations for Poland and also government has admitted that growth targets will not be met. Złoty has weakened to all year low agains euro - to 4,5. The last blow to weak zloty was expected resignation of Italian PM Matteo Renzi.
However, Polish government and Mr. Morawiecki - Deputy PM & Minister of FInance - turns weak złoty as a positive thing. He reminds, that złoty is a floating currency and that this has helped Poland many times in the past, making economy more adaptive to macroeconomical changes. Morawiecki believes weak currency will boost economic growth and help exporters. At the same time he also believes current situation is just temporary.


20.10.17


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