NEWS

05/03/2026

18:04

Morawiecki Defends Nawrocki and Glapiński’s Proposal:

The Current Prime Minister Really Stretched…

Michał Lubowicki

- The current Prime Minister really stretched himself – and made a bit of a fool of himself. Just as you cannot assess the actions of the fire brigade by looking at its financial result, it is an absolute misunderstanding to evaluate the effects of the central bank’s operations through the prism of its financial outcome – Mateusz Morawiecki said in a recording published on social media.

- The National Bank of Poland is supposed to ensure the stability of the zloty, and it is doing so successfully, because inflation is within the target. The independence and sovereignty of the central bank mean that it has the right to unlimited issuance of liquid reserves, which are legal tender, as is known. Therefore, the central bank’s loss is of no great significance – he emphasized.

- I know this sounds a bit strange, but ask any macroeconomist, they will confirm it for you. The markets understand this. At a time when the NBP had a loss, there was no need to pay more for our bonds – he continued.

- This is a short lesson on the balance sheet and income statement of a central bank, so that they in the Chancellery of the Prime Minister can do some additional training. President Nawrocki and NBP Governor have formulated their proposal in the most appropriate way. I thank them for that – the former prime minister concluded.


Michał Lubowicki