Poland’s robust economic performance has lessened the need to adopt the Euro, according to the country’s finance minister, who noted that Warsaw currently outpaces most Eurozone economies and has little incentive to give up its national currency.
Speaking to the Financial Times, Andrzej Domański said that Poland’s strong growth makes it more advantageous to continue using the Złoty for the time being.
“Our economy is now doing clearly better than most of those that have the Euro,” Domański said, going on to add: “We have more and more data, research and arguments to keep the Polish Złoty.”
His comments highlight a notable change in Warsaw’s stance under Prime Minister Donald Tusk, who initially supported Euro adoption when he first assumed office in 2008.
The plan was eventually put on hold following the eurozone debt crisis and strong resistance from the right-wing, Euroskeptic Law and Justice party, which portrayed the Złoty as a key symbol of national sovereignty during its eight-year tenure.
Since Tusk’s return to power in October 2023, the Złoty has appreciated against the Euro, and polls indicate that a clear majority of Poles continue to oppose abandoning the national currency.
“Public opinion favours 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.
“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 continued.
Furthermore, a December forecast from the OECD projects that Poland’s economy will expand by 3.4% this year, marking the fastest growth rate among EU countries.
Under EU regulations, countries outside the eurozone are required to adopt the single currency once they meet the necessary fiscal and monetary criteria.
While neighbouring Bulgaria joined the eurozone as its 21st member this month, Domański stressed that Warsaw is prioritising a seat at the G20 rather than adopting the single currency.
Poland has been invited by US President Donald Trump to participate as an observer at this year’s G20 summit in Miami.
The invitation came after Poland’s GDP surpassed $1 trillion last year, ranking it as the world’s 20th largest economy.