Brexit bad for Poland but may have upsides to it too – Polish minister

By Andrei Skvarsky.

Britain’s exit from the European Union means that in Poland GDP growth could slow by as much as one per cent in 2017 and 2018, a Bloomberg analyst has said, citing the Polish economic development minister.

A potential reduction in EU funds as a result of Brexit is likely to add pressure to Poland’s outlook in the longer term, Bloomberg Intelligence analyst Tomasz Noetzel said in a report.

Earlier, the website of Radio Poland had quoted the development minister, Mateusz Morawiecki, as saying GDP growth might slow by between 0.5 and one per cent in 2017 and 2018. “Even the lower figure means a huge impact on the Polish economy,” Morawiecki said.

He said an anticipated “slump in trade” was likely to be the biggest threat of Brexit to the Polish economy.

But Brexit could also involve upsides for Poland, according to Morawiecki. Polish workers might return home from Britain, and some financial services might be moved from London to Poland, the minister argued.

“Some [financial] operations will disperse throughout continental Europe… I would like Warsaw to be one of these locations,” Radio Poland quoted him as saying. “We are trying to encourage financial institutions from there [London]… I’m scheduled to hold talks with institutions on this matter.”

(Visited 101 times, 1 visits today)

Sorry, comments are closed for this post.