Weak PLN is beneficial to the economy – MPC member

According to MPC member Jerzy Żyżyński, a weak PLN is beneficial to the Polish economy, however, the currency has a significant firming potential. “We currently have almost a  near balance in foreign trade, on the current account, and we have it because the PLN is weaker than its purchasing power. Strengthening it would cause a sharp drop in the profitability of exports and, as a result, falling into a trade deficit. Maintaining a weaker currency is more beneficial - if we entered the euro zone, we would lose this asset,” Żyżyński explained. According to him, the PLN purchasing power parity, it is still quite weak and there is still a lot of possibilities to strengthen the currency.