Warsaw: Poland's economic performance has weakened the case for adopting the euro, Finance Minister Andrzej Domanski said on Sunday, arguing that the country is now outperforming most members of the eurozone. In remarks to the Financial Times, Domanski emphasized that Poland is "better served by retaining the zloty for now," citing faster growth and improving economic indicators.
According to Anadolu Agency, Domanski stated, "Our economy is now doing clearly better than most of those that have the euro." He highlighted that there is increasing data, research, and arguments supporting the retention of the Polish zloty. His comments represent a shift under Prime Minister Donald Tusk, who had initially supported adopting the euro during his first term in 2008, a plan that was later shelved following the euro debt crisis. Opposition from the conservative Law and Justice party, which views the zloty as a symbol of national sovereignty, also contributed to the delay.
Since Tusk's return to power in October 2023, the Polish currency has strengthened against the euro. Opinion polls indicate that a majority of Poles remain opposed to adopting the single currency. Domanski noted, "Public opinion favors the zloty, but the main reasons we're not working on euro adoption right now are economic and not about Polish politics."
Domanski added, "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." The OECD has forecasted that Poland's economy will grow by 3.4% this year, the fastest rate among EU countries.
Under EU rules, member states that do not use the euro are required to adopt the currency once they meet fiscal and monetary criteria. However, Domanski indicated that Warsaw is instead seeking a larger role on the global economic stage, including possible membership in the G20 group of major economies. Poland has been invited by US President Donald Trump to attend this year's G20 summit in Miami as an observer, following its gross domestic product surpassing $1 trillion last year, making it the world's 20th-largest economy.