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Inflation in Poland, Adam Glapiński conference. Paweł Wojciechowski: I see a vanishing point rather than a light at the end of the tunnel

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President Glapiński threw a single figure at the conference yesterday – 6 percent of inflation at the end of the year. There are some threads about vegetable soup, but there is no argument as to why it should be 6 percent, Paweł Wojciechowski, former finance minister, head of the Economic Council of the Polska 2050 group, pointed out in TVN24’s “Jeden na inne”.

On Wednesday, the Monetary Policy Council decided to leave interest rates at the current level. After the decision was announced, the head of the National Bank of Poland, Adam Glapiński, spoke at the conference. Among other things, he stated that he expected that inflation will be 6 percent in December.

Former finance minister: I see a vanishing point rather than a light at the end of the tunnel

On Thursday, the guest of “One on One” was Professor Paweł Wojciechowski, former Minister of Finance, economist, head of the Poland 2050 Economic Council.

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– Mr. President Glapiński threw one figure yesterday – 6 percent – but if we think about the arguments, there is none. Some threads about vegetable soup, and there is no argument around why it should be 6 percent – he said.

When asked if he sees “the light at the end of the tunnel” as Glapiński does when it comes to the fall in inflation, he replied that he “rather sees a vanishing point, not a light at the end of the tunnel.”

In his opinion, inflation will be “closer to 19 percent” in February. – If we look at the rolling projection over the last year and the trend, it should reach 20 percent, and at the end of the year it should be over a dozen percent – he said.

He noted that “I agree that there will be no deep recession, but there will be a strong economic slowdown.” – It’s not just about GDP. So what if our GDP will grow, for example, by one percentage point, when inflation is almost 17 percent today, which means a decrease in salaries? Wojciechowski explained.

Main photo source: TVN24

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