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Why has the US dollar reached almost 3.99 zł in Poland?


Grzegorz_  51 | 6138  
16 May 2016 /  #31
Sanctions here we come baby!

Ayeeeee !!!!111 (no, they aren't :)))))
delphiandomine  86 | 17823  
16 May 2016 /  #32
tax-break zone.

Forgotten already about how Morawiecki bribed Daimler with huge tax concessions and state aid?
Grzegorz_  51 | 6138  
16 May 2016 /  #33
Daimler

Great investment. Everyone agrees with that, except a tiny crowd of nasty propagandists.
jon357  73 | 23112  
16 May 2016 /  #34
mafia

Unfortunately it isn't just the corruption that is endemic within PiS at a local level that causes this problem; it's the complete ineptitude of PiS that has sent the Polish economy into freefall as we can now see.
delphiandomine  86 | 17823  
16 May 2016 /  #35
Great investment. Everyone agrees with that, except a tiny crowd of nasty propagandists.

Funny how you were full of "MAKE FOREIGN COMPANIES PAY TAXES" and now suddenly you're claiming that it's a great investment despite the fact that everyone knows that Daimler are only there because of a massive subsidy.

it's the complete ineptitude of PiS that has sent the Polish economy into freefall as we can now see.

Indeed, the examples with land, forests and windmills shows that PiS are effectively not to be trusted when it comes to foreign investments.
Ironside  50 | 12383  
16 May 2016 /  #36
it's the complete ineptitude of PiS that has sent the Polish economy into freefall as we can now see.

Contrary to the ingenuity of PO's cronies they're the real experts how to scam taxpayers out of their hard earned money. Yes, that crowd know which side of their bread is buttered I grant you that.
delphiandomine  86 | 17823  
16 May 2016 /  #37
Would that be PO that abandoned the independent civil service law and proceeded to appoint endless cronies to top positions?

What was that the other day from PiS? Ah yes, the manager of a football stadium is now in charge of one of Poland's biggest companies. You couldn't make it up :D
OP Polonius3  980 | 12275  
16 May 2016 /  #38
ow Morawiecki bribed Daimler

Do you think that was a mistake? I'm not sure. How did Slovakia lure or bribe Hyundai or was it Kia to set up shop? Is that the normal MO in such cases? You're the wannabe economist, so lay it all out.
delphiandomine  86 | 17823  
16 May 2016 /  #39
It is entirely normal. The problem is that many PiS supporters, Greggy included, were very vocal against such deals being done with foreign corporations. Which is it to be?

It's not even an issue of bribery. It's as simple as offering companies significant tax concessions combined with hard cash to build the facilities in question.

Personally, I'd rather that such "investments" were only permitted in the poorest 4 provinces - Lubelskie, Podlaskie, Warminsko-Mazurskie and Swietokrzyskie. Dolnoslaskie is nearly twice as wealthy as the poorest ones - does it make sense to spend large amounts of cash subsidising more factories there when the poorest provinces are starved of investment?
Grzegorz_  51 | 6138  
16 May 2016 /  #40
now suddenly you're claiming that it's a great investment

It simply is a great investment that will provide many high quality jobs, potentially several times as many in a chain of local suppliers of components and services. The only one that could match it during 8 years of PO is a VW's new factory. Let's be honest, you would love to see Poland loosing this one, so you could blame it on PiS.

The problem is that many PiS supporters, Greggy included, were very vocal against such deals being done with foreign corporations.

Like I said 100 times already, there are good foreign investments and there are the bad ones, this one is one of the best in the whole history of 3rd RP. +90% of others are either some crappy assembly lines or domestic market businesses, they deserve nothing. You first made up "they are against foreign investments !" nonsense and now try to use this made up nonsense to "justify"... something...

Dolnoslaskie is nearly twice as wealthy

Anything wealthy over there is Wrocław metro and KGHM areas, there are still powiats with unemployment rate at +20%, the one where they are going to build this factory is currently at 17%. Statistics at NUTS 2 are misleading as economic development tend to be more local.
delphiandomine  86 | 17823  
16 May 2016 /  #41
It simply is a great investment that will provide many high quality jobs, potentially several times as many in a chain of local suppliers of components and services.

Don't forget that it comes at the expense of Polish businesses that cannot profit from very very favourable tax concessions and large amounts of starting capital. You seem to have gone very quiet about this.

Like I said 100 times already, there are good foreign investments and there are the bad ones, this one is one of the best in the whole history of 3rd RP.

Please. There are Polish companies out there that would happily do a lot with the hundreds of millions that Daimler will get.

This is just a continuation of PO-era economics, nothing more - PiS needed a propaganda boost and got it by transferring a large amount of Polish cash to a foreign company.
Levi  11 | 433  
17 May 2016 /  #42
Bs. This is not fault of the government.

Almost all the emerging currencies devaluated in the world face to the dollar.

The iminent raise of the interest by the American Federal Reserve is making the dollar stronger.

I dont know why complete illiterate in economics speak things here that they clearly dont know. They should put a shoe in their mouths.
mafketis  38 | 10990  
17 May 2016 /  #43
The problem is that many PiS supporters, Greggy included, were very vocal against such deals being done with foreign corporations. Which is it to be?

Very simple, really.

If PO did it, then double plus ungood!

If PiS does it, then plus good!

Any questions?
G (undercover)  
17 May 2016 /  #44
Don't forget that it comes at the expense of Polish businesses

This is just a continuation of PO-era economics

So you finally admit that "PO-era economics" was done at the expense of Polish businesses :)))) ? Dude, stop this propaganda, it's boring. There's a difference between "foreign investors uber alles, come come and exploit our cheap labor as we are so clueless that we won't survive without you, come even If you produce toilet paper, come we beg you and offer grants" line, which you supported so much and which was pretty much the core of PO's "economic strategy" and between healthy approach to foreign investments, the green-field/technologically advanced/export oriented like this one, are obviously badly needed.

Let's be honest, you simply can't deal with a fact that Daimler's choice was based on solid facts and that they didn't go elsewhere claiming Poland is "lacking democracy", "fascism is growing" and all of those propaganda ********** you come up with again and again.

Any questions?

Yes, care to bring up any of my posts saying that last year's new VW factory wasn't a good thing ?

If PO did it, then double plus ungood!

If PiS does it, then plus good!

That's actually the kind of strategy your crowd is using, please (kindly) don't blame me for your own childish tricks.
Ziemowit  14 | 3936  
17 May 2016 /  #45
12 Nov 2015

Coupla days ago the US dollar rose to around 3.99 zł but yesty and today has dropped to 3.92

21 Jan 2016

USD = 4.14 PLN today.

16 May 2016

the złoty rebounded to 3.86 to the US dollar

What is the outlook for the next few months?
jon357  73 | 23112  
17 May 2016 /  #46
If PiS does it, then plus good!

Spot on - in fact this is PiS (and those posters here, mostly abroad or non-citizens who support them) whole approach to the economy. Yes, there are interesting and scary things right now in the global economy, however the swift reversal in Poland's fortunes after a less business-friendly party took office is extreme and likely to get worse.
Jardinero  1 | 383  
21 May 2016 /  #47
What is the outlook for the next few months?

Curious how GBP will pan out ahead of the referendum next month...
Sparks11  - | 333  
21 May 2016 /  #48
The truth is that no one on here can accurately predict what the zloty will do. One big company building a factory here or PiS saying something crazy MIGHT only influence the value momentarily. If the current government pursues a longer-term anti-foreign investment campaign without offering workable ways to stimulate Polish business the zloty will lose value.
Marsupial  - | 871  
22 May 2016 /  #49
Some of us can get decent rates now so it's good to buy there. A low currency is good for some things and bad for others. A low currency can propel it's own value up by being low to start, just with demand for now cheaper goods to use the most basic example.
delphiandomine  86 | 17823  
22 May 2016 /  #50
If the current government pursues a longer-term anti-foreign investment campaign without offering workable ways to stimulate Polish business the zloty will lose value.

That's pretty much what is happening. The latest plans for the water tax are going to cause massive problems for food producers in Poland - it's already been made clear that Poland's advantage in this sector will be wiped out with it.

The windmill situation has already got investors saying "uh-oh..." - and it doesn't help that wages are being pushed higher and higher as Poland experiences an IT/startup boom.
pweeg3  
22 May 2016 /  #51
Another Tax? I wonder if they will every figure out that more tax=less growth=rating downgrade=more interest to pay=less tax incomd to spend.

I doubt it, they prefer to call it a foreign scheme to destroy Poland
delphiandomine  86 | 17823  
22 May 2016 /  #52
Another Tax? I wonder if they will every figure out that more tax=less growth=rating downgrade=more interest to pay=less tax incomd to spend.

Here you go :

money.pl/gospodarka/wiadomosci/artykul/rzad-chce-pieniedzy-za-wode-zdrozeja-prad-i,136,0,2064008.html

The government wants the money for water. Electricity will become more expensive as well as shopping. We'll pay even for rainwater and snow.

Tax, tax, tax, just like I said before the election.
pweeg3  
22 May 2016 /  #53
A low currency is good for some things and bad for others.

Low currency is good for richer people and bad for the poor because food and fuel is a bigger portion of the poor's expenditure. Food and fuel are directly affected by the exchange rate/inflation.

Mind you, poor people are poor because they are stupid, so they don understand this relationship and vote for parties who damage the economy with socialist policies.

Hello PiS.
porky pok  2 | 127  
22 May 2016 /  #54
richer people and bad for the poo

How do you define rich and poor in this society?
$ being almost 30% higher just makes importers in Poland really miserable with there pre orders.same it benefits the exporters who made deals in $.How will it go next 7 months is really a mystery with elections in US.
TheOther  6 | 3596  
22 May 2016 /  #55
$ being almost 30% higher just makes importers in Poland really miserable with there pre orders

There are instruments out there (hedging for example) that can protect you from exchange rate exposure.
porky pok  2 | 127  
22 May 2016 /  #56
yes but its expensive also.

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