A British vote to leave EU could hurt Polish market, according to PKO BP’s chief economist Piotr Bujak. He told w.gospodarce.pl that Polish exports to the UK could drop by as much as 0.5 percent year-on-year. The move would also hurt the Polish currency, claims Bujak, while the US dollar and Swiss Franc would likely appreciate in value. He claims, however, that this impact would only be temporary.
“Once the British decide to leave EU, we should expect to see increased uncertainty on financial markets… which could further hurt demand for assets seen as ‘more risky’, such as shares, while US and German government bonds, traditionally seen as ‘safe’, would strengthen,” says Bujak. The w.gospodarce.pl website points out that in the eyes of investors, Poland is already seen as a risky market and Brexit would only deepen their concerns.
