Is Poland facing a crisis? If so, is it worth buying cryptocurrencies and exchanging saved PLN for them? Today we will consider this issue.
“This shows that the state is very well managed, that the economy at the government level is functioning very well and also at the company level, which strengthens our position at the European level. We are no longer the only recipients of EU support, but we are also expected to be initiators of cooperation in the European Union.”
– said Minister of Investment and Development Jerzy Kwieciński in an interview with Comparic24.tv, pointing to the growing Polish economy. But is the politician right?
Inflation in Poland
Today, inflation in Poland has fallen again to 2.6%. But is there anything to be happy about? Experts believe that this is just the calm before the storm and that by the end of this year, inflation could reach over 3%. Some suggest even 4%. This – and the media’s announcement of this fact – could lead to an acceleration of money circulation on the Polish market (people will simply start getting rid of PLN as quickly as possible, with thoughts of rising prices in their heads), and this will translate into further jumps in this indicator. It is difficult to scare people with hyperinflation today, but anything can happen in a few years. Especially since there is a real race for social promises on the domestic political scene…
Will the crisis be caused by adding burden to companies?
Andrzej Sadowski, an economist from the Adam Smith Center, during the 590 Congress also pointed out the fact that today the state additionally burdens entrepreneurs and scares with raising the minimum wage. In return, it gives nothing, and especially does not make it easier to run a company in terms of cooperation with offices.
“For example, an Estonian entrepreneur spends about 150 hours a year on tax settlements, while a Polish one spends over 260 hours, which means that he loses two hours a week to his Estonian colleague or other colleagues from the European Union, on activities that could normally be focused on developing the company”
– explained Sadowski.
Beware of politicians, buy cryptocurrencies?
This article is not intended to persuade anyone to invest. However, it is worth looking at the bare facts. If someone bought cryptocurrencies from December 2018 to June 2019, they increased the market value of their savings. In the case of PLN, they lost. In addition, inflation may actually be higher for most people, because the data provided by the Central Statistical Office regarding overall inflation. In turn, the prices of food products have gone up much more. Maybe this is a period when it is worth considering buying cryptocurrencies or even gold or silver?
