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Change in Gov't Begins After Length Hold Up, NBP Expected To Report Loss In 2024

POLAND
  • Prime Minister Mateusz Morawiecki's time in office draws to an end. The leader will deliver his policy speech ("exposé") in parliament at 09:00GMT/10:00CET, with the lower house expected to reject his proposed Cabinet in a vote around 14:00GMT/15:00CET. The new parliamentary majority will then propose Donald Tusk as its candidate for Prime Minister this evening, setting the stage for his exposé scheduled for Tuesday morning. Once Tusk wins a vote of confidence around 14:00GMT/15:00CET on Tuesday, his Cabinet may be sworn in by President Andrzej Duda early on Wednesday. This would allow Tusk to represent Poland at the EU-Western Balkans summit later on Wednesday. The President's chief aide Marcin Mastalerek today confirmed that Duda will seek consultations with Tusk today to set the date for the swearing-in ceremony.
  • NBP sources told Business Insider that a financial plan for 2024 assumes that the central bank will report a loss of PLN20bn at the end of next year. The budget bill adopted by the outgoing government assumed that the NBP would register a PLN6bn profit, which would be transferred to state coffers. According to Business Insider, the financial plan was approved by the Monetary Policy Council at its meeting last week.
  • Poland2050 leader and Sejm Speaker Szymon Holownia told members of his party that the upcoming local elections will likely take place on April 7.
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