Morawiecki: Constitutional crisis deters some foreign investors

Deputy Prime Minister and Development Minister Mateusz Morawiecki said in Brussels on Thursday that the constitutional crisis, and dispute between Poland and the EU about the matter, is deterring some foreign investors, Reuters reported. "There is not much impact, but there is some impact. Maybe 20 percent of the potential investors who would have  invested are putting a question mark, asking what is going on, saying 'I'll wait for a final solution in that respect,'" Morawiecki told reporters. But Morawiecki said investment decisions were more driven by Poland's economic fundamentals and fiscal and monetary policy, as well as an economic slowdown in China and the euro zone and tensions with Russia over Ukraine. He said he was not worried by the rise in Poland's borrowing costs since the new government took power in October. The benchmark 10-year yield has risen to 3.07 percent from 2.58 percent since October. "We have not seen a lack of confidence of investors in Polish bonds," Morawiecki said. He said the zloty exchange rate, in a range of 4.2-4.5 to the euro, was "not too weak and not too strong" as it supported exports and did not undermine the confidence of investors.