Remittances in 2007 exceeded foreign direct investment

And this is just the tip of the iceberg, because this figure does not take into account cash remittances. "This is gigantic. It's more than foreign investors poured into Poland last year," says Andrzej Sadowski, economist at the Adam Smith Centre. "Much of the money is being invested in housing and in starting new businesses, supporting Poland's economic growth and our purchasing power," adds Prof Leszek Gilejko of the Warsaw School of Economics. According to economists, the value of remittances will grow even further this year, fuelling further appreciation of the złoty. As a result, the złoty could hit zł.3.3 against the euro in just a few years, experts say. (Dziennik, p 1, 10) R.M.