As mentioned The current economic situation is “as good as it was after the secession.”. According to Glapiński, Poland has the first major dynamics among the largest emerging countries out of crisis. – This is approximately 5 percent dynamics. GDP growth, he said. – We left with economic growth after the epidemic. We control the situation and it is balanced – he said. – If anyone questions the economic miracle of Poland, let him show another country with better results – he added.
– This is not any high inflation, super inflation; Such terms are completely different. There is increased inflation and this applies to almost the entire world – Glapiński said. However, Glapiński admitted that it was “slightly elevated”. [7,7 proc. w listopadzie 2021 roku wobec celu NBP wynoszącego 2,5 proc. – przyp. red.]. In his opinion, it will be the same in the first quarter. 2022, then it should decrease. Throughout the year, he said, “our inflation target will be higher than the upper deflection target.” It could only be normal next year – though I’m not sure about that either – he said.
– I guarantee you Inflation is our main concern. Ours, but also the government. We will do everything we can to keep inflation as low as possible and as soft as possible. According to our current estimates, it will fall after Q1 and it will not be very painful, although it will be 5% – NBP leader Adam Klabiski said on Wednesday.
Glapiński: Temporary inflation, but within 2 years
Glapiński quoted central bank chairman Jerome Powell as saying that inflation was temporary and that he had to admit it would be troublesome. – I want to say today too. I change my rhetoric. Inflation is temporary, but within 2 years, this too is unknown, although now we see this. Inflation is not temporary, inflation is a burden. We will try to reduce it to a minimum, but not at the expense of high unemployment. I do not think anyone will force us to do so. No one is forcing us to significantly increase unemployment. This cannot be done in Poland. And we can deal with inflation – said Adam Glapiński.
read more: Can these promises be trusted? Read what politicians and the NBP governor said about inflation a few months ago
Interest rates do not affect current inflation
President Glapiński also reminded that changes in interest rates will not affect the current inflation. Recently, the NBP leader was criticized by his predecessors for raising interest rates too late, and when he did, it “happened by surprise.” The rate hike in the central bank’s arsenal is a fundamental tool (in Poland it is the NBP) in the fight against rising inflation.
read more: Amazing NBP results! No one expected! Debt installments will rise
Another interest rate hike! Borrowers will not be satisfied
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