Central bank president tells investors not to worry about current account deficit

Gronkiewicz-Waltz believes the confidence entrusted in Poland, as shown by the degree of long-term foreign investment in the country, would ensure a steady flow of foreign exchange to help cover the deficit. Besides, the earnings from the lucrative privatization [of such giants as Telekomunikacja Polska S.A.] will bring an enormous flow of funds. She also reiterated NBP’s claims that the C/A deficit would settle at more than 6% of GDP and is expected to rise to 7% in 2000. The NBP chief also asserts that the GDP might have grown by 3% in the second quarter, while the GDP for the whole year would be 4%. (Gazeta Wyborcza, page 26, Prawo i Gospodarka, page 1)