Strong Polish zloty starts to weigh on exporters - Borys
A strong Polish zloty is starting to become a burden to exporters but will be the main channel of the country's disinflation, the head of a government development agency has said.
Pawel Borys, head of the Polish development fund, made the statement at a press conference on Wednesday.
"In my opinion, a strong zloty is starting to have a negative impact on the Polish economy," Borys said.
"It seems that more than 20 percent of exporters are selling at a loss, as the threshold for profitable exports has moved from around 4.20 (per euro - PAP) before the pandemic to 4.40-4.45 after the pandemic," he added.
However, because of the excellent outlook for domestic consumption and investment, the strong zloty will be the main channel for disinflation in Poland amid weakened external demand, Borys said. (PAP)
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