EU member states must decide together what to do with Russian assets that have been frozen under sanctions, according to Lithuanian Interior Minister Agne Bilotaite. Her comment comes after Estonia gas recently suggested that it might seize the frozen funds and use them for Ukraine’s reconstruction, as the European Commission is not making any progress…
Adopting the euro in Poland would be deeply harmful and result in a “radical drop” in the rate of GDP growth, the head of the National Bank of Poland (NBP) warned on January 6. Adam Glapinski went on to say that making the euro Poland’s currency would benefit “the richest, who invest abroad, have property…
The Regional Development Agency (ADR) Nord turned to good account in the past year about 165 million lei (8.25 million euros) for the implementation of 15 infrastructure projects and five soft projects in the North Development Region. According to ADR Nord, of the total amount of investments registered last year, about 94 million lei were…
Poland will experience a strong economic slump in 2023, the head of the country’s central bank has said. Adam Glapinski told a press conference on January 5 that the slowdown would bring both a decrease in economic growth and falling inflation. He added that the current 6.75% interest rate level was “adequate for the situation”,…
Poland should avoid a recession in 2023, the governor of the National Bank of Poland (NBP) has said, citing the bank’s forecasts. Adam Glapinski said there might be temporary fluctuations in 2023, but not a recession. “Our projections indicate that we will not have a recession, that we may have some sort of swing in…
Vitas Vasiliauskas, a former chief of Lithuania’s central bank and currently an adviser to the prime minister, is joining the Executive Board of the International Monetary Fund (IMF). Vasiliauskas confirmed that January 6 was his last day of work with the team of Prime Minister Ingrida Simonyte. He will take up his new job in…
The Polish central bank’s interest-rate hike cycle is not over yet, the bank’s head, Adam Glapinski, has said. Glapinski told a press conference that the bank was waiting for January/February inflation figures before deciding about interest rates. In a recent hike cycle, the National Bank of Poland’s Monetary Policy Council raised interest rates 11 times…