No danger for Polish zloty to stay weak in long-term, says prime minister By Reuters

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© Reuters. FILE PHOTO: An image illustration of Polish zloty banknote, taken in Warsaw January 13, 2011. REUTERS/Kacper Pempel/File Picture

WARSAW (Reuters) – There isn’t a danger that the Polish zloty will stay weak within the long-term, Poland’s prime minister mentioned on Friday, including the federal government was engaged on measures that may help the nation’s economic system, which was hit after the Russian invasion of Ukraine.

The Polish forex has been underneath strain since Russia started its invasion of Ukraine on Feb. 24, prompting the central financial institution to promote foreign currency for zlotys. The final intervention was carried out on Friday, after the zloty fell to its lowest stage since 2009.

“We all know find out how to defend the zloty and there’s no worry that the zloty will likely be a weak forex in the long term,” Prime Minister Mateusz Morawiecki informed personal TV broadcaster Polsat Information.

He added that the federal government is engaged on measures that would cut back the unfavorable impression on the economic system as a result of battle in Ukraine.

“It’s time for an anti-Putin defend and we will likely be engaged on such a defend within the close to future,” he mentioned, referring to Russian President Vladimir Putin.

“It should concern all these components of financial life that endure from conflict, corresponding to financial progress, forex, inflation, rates of interest. … We’re making ready such an anti-Putin defend,” he added with out giving additional particulars.

In a podcast additionally revealed on Friday Morawiecki referred to as once more for imposing extra sanctions on Moscow.

“With every passing day that Putin wages this conflict, the sanctions bundle ought to develop,” he mentioned.

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