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EU Minister Calls For Swift Unlocking Of Recovery Funds, GDP Data Eyed

POLAND
  • EU Minister Szymon Szynkowski vel Sek told Do Rzeczy weekly newspaper that the budget will not "fall apart" without the disbursement of EU recovery funds but it would be "irresponsible" not to secure access to cheap funding earmarked for Poland. As a reminder, in order to meet the European Commission's milestones, Poland needs to unwind much of the judicial reforms from the recent years and tweak regulations on setting up wind farms. The key court bill will be debated by Senate committees this afternoon, before a plenary debate in the upper house tomorrow morning.
  • Poland's statistics office will publish the 2022 GDP reading at the top of the hour. The consensus estimate is +4.8% Y/Y, which would represent a slowdown from the previous year's revised +6.8%, as the NBP delivered a series of rate hikes while Polish economy came under pressure amid the ongoing war in Ukraine. Senate Speaker Tomasz Grodzki confirmed that the opposition will propose its amendments.
  • Speaking with DGP newspaper, Grodzki noted that inflation will likely dominate the election campaign this year, adding that he expects the opposition to win at least 63 of 100 seats in the upper house.
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