Poland Criticizes European Response to Crisis

Despite bucking the economic gloom of the euro zone in recent years, Poland’s Finance Minister warned that the region’s debt crisis could derail the economic strides made by the country.

“Forty percent of our GDP is exports and we are well aware of being hostage to Europe but we have proved as in 2009 when we were the only country in Europe to not suffer a recession despite very strong headwinds, that we have a remarkably resilient economy, there’s an innate strength,” Jacek Rostowski told CNBC.

Growth in the country is expected to slow to 2 percent this year from 4.3 percent last year.

“Next years’ growth will be in line with our expectations and [we] expect a slow start to 2013 and a recovery in the second half of 2013,” he said.

His Treasury Ministry has downgraded the forecast for growth in 2013 from 2.9 percent to 2.2 percent.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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