May 16, 2012 / 6:03 AM / in 6 years

Poland - Factors to Watch on May 16

Here are news stories, press reports and events to watch, which may affect Poland’s financial markets on Wednesday. ALL TIMES GMT (Poland GMT + 2 hours):

ROSTOWSKI ON GREECE

The Polish zloty would depreciate visibly in case of Greece leaving the euro zone in an uncontrolled way, Finance Minister Jacek Rostowski said on Wednesday.

Rostowski said Europe must to everything to ensure a controlled potential exit, which would then lead to zloty gains following the expected initial depreciation.

SHALE GAS

Poland’s Lotos, PKN Orlen and PGNiG will enter a strategic partnership deal with Canada’s Encana and Talisman on shale gas exploration, daily Dziennik Gazeta Prawna writes.

SUPPORT FOR POLITICAL PARTIES

Poland’s main opposition party, the right-wing Law and Justice (PiS), polls ahead of Prime Minister Donald Tusk’s ruling centrist Civic Platform (PO), a survey published by tabloid daily Super Express shows on Wednesday for the first time in several years.

PiS could now count on the backing of 28.9 percent of Poles compared to 27.8 percent for PO, according to the survey, in a sign Tusk may be paying a political price for unpopular pension reform, among others.

PBG

Troubled Polish builder PBG reported a bigger-than-expected 60.5 million zlotys ($17.78 million) net loss in the first quarter of 2012 compared to a net profit of 24 million over the same period a year earlier.

CURRENT ACCOUNT

Poland’s central bank releases current account data for March. Analyst polled by Reuters expect the deficit to stand at 1 bln euros.

DEBT TENDER

Poland’s finance ministry offers up to 3.5 billion zlotys in new series 5-year benchmark bonds maturing in April 2017 with results of the tender expected at 1000 GMT.

FITCH

Poland is on track to tackle its state finances, but is unlikely to secure an upgrade of the rating outlook or rating this year as the government needs first to deliver on its ambitious debt reduction plan, Fitch Ratings lead analyst for Poland said.

NOTE - For a diary of forthcoming events see and a calendar of east European economic indicators see .

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