The Supervisory Board of Poland's major bank Pekao has appointed former deputy finance minister, Leszek Skiba, the CEO of the bank in which the government has a controlling stake through state-run companies.
Poland's economic growth in the first quarter of 2020 was still positive but "visibly lower" than the 3.2 percent annual growth rate posted in the previous quarter, Deputy Finance Minister Leszek Skiba wrote in an answer to an MP query.
According to a baseline scenario, Poland’s GDP will decline q/q in the second quarter of 2020 without a y/y decline, but the scenario of a y/y decline cannot be fully ruled out, Deputy Finance Minister Leszek Skiba told Dziennik Gazeta Prawna on Monday.
Poland has been reducing its public debt, which will go down to 46.5 percent of GDP at the end of 2020, and the country enjoys record-high credibility on financial markets amid record-low Treasury bond yields, Deputy Finance Minister Leszek Skiba has told PAP.
Polish Deputy Finance Minister Leszek Skiba told reporters on Friday that "inflation in Poland in 2020 will likely exceed 2.5 percent envisaged in the budget draft," but underlined that this should not be a cause for concern.
"Poland is ready for a global economic slowdown. Poland's GDP growth should visibly drop to below zero to make our deficit come close to the EU limit," the Deputy Finance Minister Leszek Skiba told the Dziennik Gazeta Prawna daily on Thursday.