Economic News from Poland

by Chyła Łukasz 3TEF

Today in my blog I will describe the topic of inflation in Poland. In this country, there is a currency called zloty. So, inflation in Poland is over 8% percent, which translates into the wallets of Polish women and Poles. Such record inflation has not been seen in Poland for 25 years. 

This situation is caused by the covid-19 pandemic, mismanagement by the president of a Polish bank and mismanagement by the ruling party in Poland. 

It is influenced by a lot of social packages, which worsens the financial situation in the country's budget, as well as indebtedness of the country and printing of money without coverage. Nowadays, a new economic tactic has to be taken in our country, because if we do not do this, our country may end up as total bankruptcy or, as a last resort, like Venezuela, which is ruled by hyperinflation.

We have to wait for this situation to develop further and I will keep you informed, thank you for reading today's post.