Morawiecki: Poland won't defend the złoty

The government isn't planning to defend the currency, but the Minister of Finance may undertake other efforts to stabilize the złoty at a level of PLN 4.1-4.4 versus the euro, Development Minister Mateusz Morawiecki told TVN24 BiŚ in Davos. "In the long term we would like to keep the złoty fluctuations in the range as it was before, or around 4.1-4.4," Morawiecki said. "We do not plan any interventions. But, there is definitely a significant inflow of funds from the European Union this and next year and these could be sold either by the central bank or directly by BGK bank on the market. The finance minister must be sure in his thinking, in what perspective, what and how to activate it." Morawiecki also said that an income criterion should be implemented in an FX mortgage conversion bill. "The most affluent and particularly those who bought real estate as an investment, shouldn't be eligible for any aid," the minister assessed.