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.
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.
Poland can push ahead with plans to cover much of its 2014 borrowing needs in the next few months as the U.S. Federal Reserve delays cutting back its bond purchases, Finance Minister Jacek Rostowski said.
Poland won’t set a deadline to join the euro because the European Union’s biggest eastern economy first needs revamping to avoid “unpleasant consequences” from adopting the currency, Finance Minister Jacek Rostowski said.