Poland Now Close to Beating Inflation, Ruling Party Leader Says

Poland is close to overcoming inflation pressures and has done so without overreacting in a way that could have damaged the economy for years, said ruling party leader Jaroslaw Kaczynski, Bloomberg News reported. Polish policy has been aimed at protecting the nation’s labor market, Kaczynski said in Janow Lubelski in the nation’s east on Saturday. An overresponse to the sudden price increases following Russia’s invasion of Ukraine in 2022 could have suppressed the nation’s growth for as long as six years, he added. For the most part, Poles have been shielded from the jump in prices by fast-rising wages, tax cuts and different subsidies, Kaczynski said. “With inflation expected to fall each month from now, we are close to saying that our well-thought-out plan has succeeded,” he said. Kaczynski’s right-wing Law & Justice party, in power since 2015, leads in the polls as it seek another win in general elections this year. Read more.