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Poland attractive to investors: central bank chief

PR dla Zagranicy
Grzegorz Siwicki 26.01.2018 11:15
With its robust economic growth and stable democracy, Poland is an attractive destination for investors from around the world, the country’s central bank chief has said.
Poland's central bank chief Adam Glapiński. Photo: Piotr Małecki (NBP Press Office)[CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)], via Wikimedia CommonsPoland's central bank chief Adam Glapiński. Photo: Piotr Małecki (NBP Press Office)[CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)], via Wikimedia Commons

In an interview with public broadcaster Polish Radio, Adam Glapiński said that Poland was one of the "hottest" places for investment internationally.

Glapiński added that foreign companies appreciated the stability of Polish democracy and the country’s stable zloty currency.

The head of the National Bank of Poland (NBP) was speaking in Davos, Switzerland, where he was taking part in the World Economic Forum, a high-profile annual gathering of global political and business leaders.

Glapiński also told Polish Radio that investors meeting in Davos displayed a keen interest in Poland and spoke highly of its stable economy.

Poland in no rush to adopt euro

Glapiński echoed a view voiced earlier in Davos by Prime Minister Mateusz Morawiecki that Poland could only enter the eurozone after it closed its income gap with countries in Western Europe.

Experts for Poland’s central bank have analysed the scenario of Poland joining the eurozone and concluded that “such a step should not be rushed,” Glapiński told Polish Radio in the interview.

He added that even if Poland met all the criteria of eurozone membership “one would have to consider” whether adopting the euro would be beneficial for the country. He said his own personal opinion was that there was “no such need.”

While some businesses would most likely benefit from Poland switching to the euro, the majority of the population would see their financial position deteriorate as a result of such a move, Glapiński argued.

President Andrzej Duda has said in Davos that Poland could consider replacing the zloty with the euro only after earnings in the country approached the European Union average.

When it entered the European Union in 2004, Poland undertook to adopt the single European currency at some point in the future, but there is no specific deadline for when this should happen.

Forty-seven percent of Poles believe that adopting the euro would be bad for their country, while only 14 percent say it would be beneficial, according to a survey by Kantar Public.


Source: IAR, Polish Radio

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