The Polish zloty strengthened today after Bronislaw Komorowski won in the presidential election, spurring the hopes that his victory would help to reduce the nation’s budget and to adopt the euro in 2015.
According to the final tally by the State Election Commission, Komorowski has won 53 percent of the votes. His victory may help to end divisions that appeared under the previous President, as Komorowski’s victory gives his Civic Platform party control both of the presidency and the cabinet. The government desperately needs unity to battle with the budget deficit, which grew to 7.1 percent of the gross domestic product in the previous year.
The analysts were previously worried as the election was closing to a draw. Now they look in the future with the brighter outlook, as the president from the same party as the government should help to faster take the decisions, required to deal with the economic problems.
USD/PLN fell to 3.2796 as of 17:32 GMT today after opening at 3.2964. EUR/PLN dropped to about 4.1110 from its opening rate of 4.1428.
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