Locked content Morawiecki: We won’t intervene on currency markets

Deputy PM Mateusz Morawiecki said that the Finance Ministry won’t be intervening on the currency markets after the złoty lost ground against major currencies on Monday following the results of the Italian referendum, which could eventually lead to Italy leaving the euro zone. “The złoty is a liquid ...

Locked content BZ WBK announces new CEO

Michał Gajewski became chairman of Bank Zachodni WBK, according to reports in the Polish press on Tuesday. He had been acting as a temporary president since May. Gajewski is a lawyer by training, and completed graduate studies abroad, including at Chicago’s Northwestern University and London Busines...

Morawiecki: tax-free income “will be costly”

Minister of Finance and Development Mateusz Morawiecki acknowledged that the government’s planned income tax exemption of PLN 6,600 will be expensive, but at the same time has defended the move, according to reports in the Polish press on Monday. “The cost of the planned changes in the amount of tax...

Government announces it will implement tax free exemption

Finance Minister Mateusz Morawiecki announced on Friday that the amount of tax-free income earners could declare annually would be raised to PLN 6,600 and would free more of Poland’s lowest-income earners from having to pay tax, according to the Polish press. Prior to 2016, earners could declare jus...

Locked content Morawiecki announces shuffling of PZU, Grupa Azoty

Minister of Finance and Development, Mateusz Morawiecki, stated that Poland’s largest chemical company, as well as its largest public insurer, will move from the Treasury to be placed under the supervision of the Ministry of Development, the Polish press reported on Friday morning. The minister also...

Morawiecki optimistic about Q4 deficit, despite low growth forecasts

Minister of Finance and Development Mateusz Morawiecki acknowledged on Thursday that GDP growth for the fourth quarter of 2016 could be 2.5 percent, but maintained that improved tax collection and reliance on foreign investment would make up for the lower-than-expected growth. He was speaking to rep...

Locked content Poland’s National Development Bank to increase lending capacity

According to a report on Thursday morning in Puls Biznesu, the government plans to recapitalize bonds worth PLN 3 billion in an effort to increase lending possibilities in Poland. “Reinforcing the capital of the bank (finances) the plan of Development Minister Morawiecki…the most (significant) part ...

Locked content Morawiecki maintains tax changes won’t hurt entrepreneurs

Minister of Economic Development and Finance, Mateusz Morawiecki, told the Polish press over the weekend that planned reforms to the tax system would take into account the risks that entrepreneurs face when running their businesses. He confirmed that there were no plans to eliminate the 19 percent f...

Locked content Morawiecki: “We are dealing with a cyclical slowdown”

Concerns regarding Poland’s lower-than-expected economic growth during Q3 can be attributed to a European, as well as an international, downturn in economic growth, Polish Deputy PM and Minister of Finance Mateusz Morawiecki told the Polish press on Thursday. “We are (still) one of the fastest-expan...