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The Warsaw Voice » Business » March 26, 2014
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Polish economy so far immune to Ukrainian crisis - central bank head
March 26, 2014   
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Poland's economy has so far been nearly unaffected by the Ukrainian crisis, but may face some problems with declining exports to Russia and Ukraine, central bank head Marek Belka said in a televised interview.

"The Polish economy, at least as far as the currency is concerned, has been nearly unaffected by this," Belka said of the aftermath of the recent political events, calling the 1-2% zloty depreciation negligible.

"There may be problems, there already are, with exports to Russia and Ukraine," he added, pointing to the declining competitiveness of Polish exports due to the recent weakening of the ruble and the hryvnia.

Concerning the potential euro adoption by Poland, the Ukrainian crisis has not altered the economic balance but has brought to light the political side of the debate, Belka reiterated his earlier comments.

"The Ukrainian crisis has shown that it is good to be where decisions in the EU are taken, and it seems to me that they are taken . . . in a circle of insiders," he said. "The situation in Ukraine should remind Poles that there is that political plane of the euro debate. I wanted to highlight that."
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