The zloty varied markedly last week
Published:
25 September 2003 y., Thursday
The zloty varied markedly last week. It appreciated at the start of the week only to fall in the following days. The $/zl. rate ranged from 3.9450 to around 4.03. The euro/zl. rate hovered around 4.41-4.46.
The reason for the zloty's fluctuations against other currencies was alarming information from rating agencies that Poland's credit rating might have to be reduced due to its rapidly swelling public debt.
As expected, the government has approved the guidelines of next year's budget, with a zl.45.5-billion budget deficit. Investors now expect the Ministry of Finance to come up with the guidelines of its medium-term public finance strategy. The government is also expected to offer a plan of budgetary reforms in the next three years. National Bank of Poland (NBP) President Leszek Balcerowicz said the strategy should improve the prospects for Poland's economic growth.
Many investors are putting their decisions on hold, awaiting new macroeconomic data on inflation and industrial production.
Šaltinis:
warsawvoice.pl
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In European sustainable energy week 2010, new EU energy commissioner presents strategy to reduce Europe’s dependence on fossil fuel.
more »
The EBRD is launching a Project Complaint Mechanism, which is expected to enhance the accountability and transparency of the Bank’s operations.
more »
The EBRD is boosting the availability of local currency financing in Armenia with a synthetic loan in Armenian Drams (AMD) worth $4 million to FINCA UCO CJSC for on-lending to local micro and small enterprises (MSEs).
more »
This year is the UN year of biodiversity and it brings endangered species into the spotlight.
more »
The World Bank Board of Directors today approved a US$65 million project to support the recovery of Haiti’s critical infrastructure as well as the reestablishment of basic State functions following the devastating 7.0 magnitude earthquake on January 12, 2010.
more »
Haiti’s arduous reconstruction and recovery process jolted forward today following fresh commitments to help the Caribbean nation rebuild in the wake of its devastating January 12 earthquake.
more »
A mission from the African Department of the International Monetary Fund (IMF) visited Uganda during March 4-17, 2010, to conduct the seventh and final review under Uganda’s Policy Support Instrument (PSI) and reach understandings on a policy framework for a new three-year PSI to cover the period 2010 to 2013.
more »
The European Economic and Social Committee (EESC), as the first EU institution, rose to the challenge of providing a comprehensive vision for the future of the Common Agriculture Policy (CAP), in advance of the European Commission's papers on the matter, due to be issued later this year and in 2011.
more »
The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 36-month, SDR 513.9 million (about US$790 million) Stand-By Arrangement (SBA) for El Salvador to help the country mitigate the adverse effects of the global crisis.
more »