10.6 C
London
Monday, March 4, 2024

Inflation and the zloty. Prime Minister Mateusz Morawiecki on the condition of the Polish currency

Must read

- Advertisement -


Let the symbol of the fight against inflation be the zloty, which should strengthen. We would like the Polish currency to strengthen, stressed Prime Minister Mateusz Morawiecki during his visit to Henryków in the Dolnośląskie Voivodeship. On Saturday, we will pay PLN 4.60 for the euro, PLN 4.38 for the dollar, and PLN 4.43 for the Swiss franc.

– He is the bane of today’s times inflationone that we have not seen for over 20 years, said the prime minister on Saturday Mateusz Morawiecki during a visit to Henryków. He recalled that inflation is a global phenomenon that was triggered by Putin. He added that the government is fighting inflation in several ways.

Prime Minister about the zloty

– We are trying to fight inflation in a direct way, inter alia, by strengthening the zloty. The euro was already PLN 4.7, PLN 4.8, headed towards PLN 5, but we reversed this trend. Taking care of the zloty means keeping inflation lower and lower in order to see a falling inflation trend, said the Prime Minister.

- Advertisement -

He also stated that the direct way to fight inflation was to take care of public finances, which “are in order for the first time in the Third Polish Republic and are well managed”.

– We fight inflation with fiscal, monetary and regulatory policies, but let the symbol of this fight be “zloty”, which should strengthen, and we would like it to strengthen – said Morawiecki.

He added that, as part of the fight against inflation, the government is also carrying out protective measures, including on: reduction of VAT on food to zero percent, reduction of VAT and excise duty on energy, gas, fertilizers, as well as subsidies for the lowest earners.

– The third area is intervention, we intervene in several markets. For those who have loans, we intervened and at the expense of the banks, and not the state budget, there will be loan holidays this and next year for 4 months, eight installments in total – said Morawiecki.

Morawiecki said that he is aware that there is concern about jobs and how this economic crisis, which we are seeing in various parts of the world, will affect Poland. – How this monstrous inflation, how this putinflation will affect the economic and social life in Poland – he added.

“The anxiety, the uncertainty is among us,” he continued. He added, this uncertainty requires that the rulers have some answer. – That we answer as specific as possible. I will try to present to you what we are doing now to feel the anxiety of all Poles, and in six months, next year, we will try to secure our borders, but also to secure the financial life of our citizens; to help people survive this time of fear, anxiety – he said.

He stated that the government was also intervening with banks over interest rates on loans and that banks had recently raised interest rates as a result of these actions.

– I am persuading banks to raise interest rates, I encourage them to buy treasury bonds, it is a safe and transparent investment, but if someone does not want to buy them and wants to keep money in banks, deposits must have higher interest rates. That is why we are pressing the banks and we will be pressing them, added the Prime Minister.

He pointed out that the government’s actions were costly. He recalled the government’s actions regarding fertilizers, including subsidies for their purchase in the amount of PLN 500 per hectare of field and PLN 250 per hectare of meadows and pastures.

– These activities are billions of zlotys, 4 billion zlotys have to be spent on subsidies for fertilizers, another billions on VAT reductions, 6-7 billion zlotys on food – said Prime Minister Morawiecki.

– I think that the first installments will come from KPO at the end of this year or the beginning of next year – said the Prime Minister.

– But what is important, we have already started projects with KPO – he stressed.

Main photo source: PAP / Maciej Kulczyński



Source link

More articles

- Advertisement -

Latest article