Since 1989, Poland has stood out among the former communist countries as the most successful reformer with the highest cumulative economic growth. It sailed through the global crisis and was the only European Union nation that didn’t experience a recession in 2009.
Polish government bonds are headed for their worst performance since at least 1999, at risk of their first annual loss, on concern over the timing of the U.S. Federal Reserve’s planned stimulus reduction.
Benefits to adopting the euro, such as easier access to capital and foreign funding, are becoming “fiction,” Polish Finance Minister nominee Mateusz Szczurek said in an interview with Dziennik Gazeta Prawna.
Poland’s incoming Finance Minister Mateusz Szczurek said he’ll seek to use European Union funds to bolster a nascent recovery, signaling to investors that growth will remain a priority while the cabinet cuts the deficit.
The iShares MSCI Emerging Markets Index exchange-traded fund extended losses after Federal Reserve officials said they might trim stimulus in coming months. Hungary’s shares slid as the nation fined 11 banks.