Poland’s current account surplus is here to stay

A collapse in foreign firms’ reinvested earnings and a stronger recovery in goods exports than imports have caused Poland’s current account surplus to swell to record levels during the pandemic. While some of these factors are likely to fade, we think structural forces mean that Poland will run a current account surplus for the next few years which will underpin an appreciation of the zloty.
Liam Peach Emerging Markets Economist
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