Polish economy strongly resistant to crisis - top banker

In Europe, the Polish economy is one of the most resilient to crisis, the governor of Poland's central bank has said.

"Poland is very little indebted, internally and externally," Adam Glapiński said in an interview to be published by Sieci weekly on Monday.

According to Glapiński, the current state of Poland's finances is "the best in history."

"Contrary to what is sometimes said, debt is not a risk... Poland is pursuing a very rational, conservative financial policy. Our currency reserves are also growing rapidly, currently reaching almost EUR 135 billion," he said.

Glapiński noted that "most developed countries have much higher public debts than Poland."

The governor of the National Bank of Poland added that last year's increase in debt "took place all over the world, as it was a necessary element of anti-crisis measures. With the economic development we have, this phenomenon is having no major consequences."

"We still have a relatively low public debt... We have come out stronger out of each crisis, with no losses or with little losses... each time reducing the distance to often hard hit leaders," said Glapiński.

Poland's finance ministry forecasted that in 2020 the public debt was below 50 percent of GDP in accordance with its Polish definition and less than 60 percent in accordance with the EU definition. In December 2020, the public debt increased by 12.8 percent year on year.