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Front Pages Flag Risks of PLN Weakness

POLAND
  • In a front page piece in DGP Daily, the paper outlines the danger to the economy if PLN weakness extends, with the 5.00 USD/PLN level specifically cited. The pieces flags the risks to inflation from high crude oil and gas prices, and cites economists from Citi and KIG.
  • DGP also writes that Poland is looking to file its first motion for payments in the frame of EU recovery funds, despite the prolonged deadlock between Warsaw and Brussels. Poland claims it have delivered on 28 out of 37 milestones, including those on the judiciary. Nonetheless, there are signs that Brussels may not agree.
  • In a strategy statement published earlier today, the government stated market and budgetary conditions may mean that FX debt may temporarily exceed 25% of their total stock, however it will be kept below 25% over the longer term.
  • Budget data this morning shows the January – August government surplus at PLN 27.5bln, with revenues rising 7.8% over that period.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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