Poland’s booming economy has weakened the case for adopting the euro, the country’s finance minister has said, adding that Warsaw now outperforms most Eurozone economies and has little reason to abandon its own currency.
Andrzej Domański told the Financial Times (FT) that Poland’s economic growth shows it is better served by retaining the złoty for now.
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“Our economy is now doing clearly better than most of those that have the euro,” Domański said, adding: “We have more and more data, research and arguments to keep the Polish złoty.”
His remarks underline a clear shift in Warsaw’s approach under Prime Minister Donald Tusk, who had previously backed euro adoption when he first took office in 2008.
That plan was later shelved after the euro debt crisis and amid strong opposition from Poland’s right-wing and Euroskeptic Law and Justice party, which framed the złoty as a pillar of national sovereignty during its eight-year-long rule.
‘Public opinion favors the złoty’
Since Tusk returned to power in October 2023, the złoty has strengthened against the euro and opinion polls show a consistent majority of Poles remain opposed to giving up the national currency.
“Public opinion favors the złoty, but the main reasons we’re not working on euro adoption right now are economic and not about Polish politics,” Domański told the FT.
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“Two years ago I was a bit worried that Poland could be left behind in a two-tier EU and outside the Eurozone, but today Poland is clearly in the top economic tier, and I see no strong reason to abandon our own currency,” he added.
According to a December forecast by the OECD, an international economic policy organization, Poland’s economy is expected to grow 3.4% this year, the fastest pace among EU countries.
Under EU rules, non-euro members must eventually adopt the single currency once fiscal and monetary benchmarks are met.
Poland eyes G20 membership
While neighboring Bulgaria became the Eurozone’s 21st member this month, Domański said that instead of joining the single currency, Warsaw is seeking a seat at the G20, a forum of the world’s largest economies.
Poland has been invited by U.S. President Donald Trump to attend this year’s G20 meeting in Miami as an observer.
The offer was extended after Poland’s GDP topped $1 trillion last year, making it the world’s 20th largest economy.