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    Head of Polish Development Fund Highlights Challenges and Opportunities Amid Strong Zloty

    Pawel Borys, the head of the Polish Development Fund, addressed concerns about the impact of a robust Polish zloty on the country’s exporters during a press conference held on Wednesday.

    Expressing his viewpoint, Borys stated, “In my opinion, a strong zloty is beginning to exert a negative influence on the Polish economy.”

    He highlighted the challenges faced by exporters, noting that over 20 percent of them are now operating at a loss. Borys explained that the threshold for profitable exports had shifted from approximately 4.20 (per euro – ed.) before the pandemic to a range of 4.40-4.45 post-pandemic.

    Despite the challenges posed by the strong zloty, Borys pointed out that the currency’s strength could serve as the primary avenue for disinflation in Poland. He attributed this to the optimistic outlook for domestic consumption and investment, suggesting that the strong zloty would play a crucial role in managing disinflation amid weakened external demand.

    The dual nature of the strong zloty, acting as both a burden to exporters and a key tool for disinflation, underscores the complexity of economic dynamics facing Poland in the current global context.

    Source:

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