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Minister Sees Poland Meeting EU Criteria for First Recovery Fund Disbursement

POLAND
  • DGP write today that Poland are fulfilling the criteria and milestones required to secure EU recovery funds, with Semeniuk of the Development and Technology ministry seeing the government putting the finishing touches on legislation targeting the first disbursement of funds. The minister adds that the payout is entirely dependent on the Commission’s assessment of legislation.
  • A survey by Citi cited in Rzeczpospolita sees as many as 70% of respondents seeing their financial condition deteriorating over the past year, with notable pessimism surrounding personal finances and inflation over the next 3 – 12 months.
  • The front page of Parkiet writes that the Polish equity market is due a correction, but not due to the missile strike this week. The pieces cites a number of brokers and market commentators. Elsewhere in the paper, an interview with Credit Agricole’s Borowski sees foreign investors remaining interested in Poland, with the missile strike earlier this week unlikely to deter FDI.
  • Banks may face a fresh wave of lawsuits following the judgement passed down in Katowice, which excluded the use of WIBOR in calculating interest on a loan taken out by the plaintiff, instead the interest due should be calculated solely on the bank’s margins, according to Gazeta Wyborcza.
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