FinMin: Economy is slowing

Image : Finance Ministry Mateusz Szczurek

Polish Finance Minister Mateusz Szczurek said in an interview with TV station TVN 24 BiŚ, that his office has downgraded this year’s GDP forecasts to 3.4 percent from the previous 3.8 percent.

“Our economy has stopped growing in the last few months, which is worrying,” he admitted.

According to Szczurek the main reasons for the downturn include EU sanctions against Russia and vice versam as well as slowdown of the economies in Western European countries.

According to Szczurek, the current economic situation in Poland is unstable. “The uncertainty regarding the demand for Polish goods and services abroad forces us to plan this year’s budget with great care.”

When asked what should the MPC do at its upcoming seating, Szczurek didn’t want to comment, but said that “the lowering of interest rates should help meeting the CPI target and could possible stimulate companies to invest their funds.”

 

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