The cost of the currency
The central bank deputy governor Krzysztof Rybiński said that upward pressure on the currency may continue, provided political risk related to this year's general election remains under control.
"The strong złoty is indeed appearing as a strong barrier for exporters. In the fourth quarter, net exports had a negative impact on growth and we can expect that to be the case until the end of this year," Rybinski said.
"We are seeing a fairly strong fall in export orders (and) growth of exports may slow in coming months."
The złoty has gained 18 percent over the last 12 months against the euro, helping to curb inflation. However, the currency's strength has also sparked concerns over the effect on exporters to the euro zone, who have been the main driver behind Poland's economic pick-up since 2003. (Reuters)
J.T
"The strong złoty is indeed appearing as a strong barrier for exporters. In the fourth quarter, net exports had a negative impact on growth and we can expect that to be the case until the end of this year," Rybinski said.
"We are seeing a fairly strong fall in export orders (and) growth of exports may slow in coming months."
The złoty has gained 18 percent over the last 12 months against the euro, helping to curb inflation. However, the currency's strength has also sparked concerns over the effect on exporters to the euro zone, who have been the main driver behind Poland's economic pick-up since 2003. (Reuters)
J.T
