Poland's inflation likely to fall, zloty up this year: minister
www.chinaview.cn 2010-01-11 03:12:32   Print

    WARSAW, Jan. 10 (Xinhua) -- Poland's average inflation in 2010 is likely to measure 1.5 percent to 2.0 percent, much less than in2009 when it averaged 3.5 percent, Polish Deputy Minister of Finance Ludwik Kotecki said on Sunday.

    The CPI index could approach 2.5 percent year-to-year as soon as February, the minister told the Polish news agency PAP.

    "Due to the statistical base effect, inflation should approach the target of 2.5 percent in February and Poland should meet the Maastricht criterion on inflation in the fourth quarter. This is because I expect inflation in the euro zone to rise while Poland's inflation will be falling," Kotecki said.

    The finance ministry expects the Polish currency zloty to keep appreciating at a slow pace this year, reflecting the improving fundamentals of the Polish economy, Kotecki added.

    He pointed to the year 2015 as the most likely date for Poland's switch to the euro, but said it was not the date preferred by the government. "The preferred date will be determined by the outlook for meeting convergence criteria," he explained.

    Last month Poland met only the long-term interest rate convergence requirement.

Editor: yan
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