FX.co ★ Poland to hardly switch to EUR

The Polish authorities are once again concerned about the issue of the country's transition to the single currency. It has become a momentous decision for many countries in the eurozone. However, among Polish leaders, there is no unanimity on this issue. Perhaps in the near future, the situation will become clearer.

According to Poland’s Minister of Finance Andrzej Domański, at the moment the country's economy is not ready to switch to the euro. “Poland's economy is not ready to join the eurozone,” Finance Minister Andrzej Domanski said.

Notably, only three of ten countries that joined the European Union in 2004 use their national currencies. They are Poland, Hungary, and the Czech Republic. These states have not switched to the single currency yet.

In 2023, Chairman of the Fiscal Council of Hungary Arpad Kovacs said that the country could join the eurozone by the end of 2024.

At the moment, the economic situation in the eurozone is mixed. According to current reports, inflation has unexpectedly slowed down in a number of European countries. At the end of March 2024, the growth of consumer prices in 20 countries using the euro did not exceed 2.4%. In February, this indicator was at 2.6%, the lowest reading since November 2023.