Zloty may remain strong for longer

APA - Austria Presse Agentur
11-01-2006, 18:04

Warsaw (Puls Biznesu) – PM Kazimierz Marcinkiewicz worries that strong zloty may endanger economic growth. Yesterday, he talked about it with the Ministry of Finance and said the ministry would take measures not to let zloty become too strong.

Warsaw (Puls Biznesu) – PM Kazimierz Marcinkiewicz worries that strong zloty may endanger economic growth. Yesterday, he talked about it with the Ministry of Finance and said the ministry would take measures not to let zloty become too strong.

These are by no means going to be radical steps. I’m also going to talk about it with the National Bank of Poland, which is responsible for monetary policy, Kazimierz Marcinkiewicz added.

Yesterday, the Polish currency depreciated against other currencies, however, according to Tomasz Wronka the head of X-Trade Brokers DM analyze department, it was a short-term change.

Till the budget is set, the market may be a little bit upset but I do not expect the euro to cost over PLN 3.81. Later, unless negative news come from political scene, we will watch further appreciation trend, Tomasz Wronka believed.

 

Negative news would be no support for next year’s budget. However, it seems that there will be no problems with this. However, according to Jan Rokita, an MP of Citizens’ Platform (PO) party, the budget is bad for Poland. PO has prepared 72 amendments including cutting spending and reducing budget deficit by PLN 3 billion (EUR 795m). The budget was initially to be voted on January 14th but it may be done on January 24th.

(PLN 1 = EUR 0.265)

 

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Podpis: APA - Austria Presse Agentur

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