Employment of foreigners in Poland fell by 8% in 2025 – the MRPiPS reported in its study.
The total value of household financial assets at the end of Q4 2025 was PLN 3,975,330 million – the NBP said.
The National Development Bank will offer securities series FPC0229, FPC0231, FPC0332 and FPC0235 in the tender on April 29, as part of the issuance for the COVID-19 Countermeasures Fund, with a minimum supply of PLN 500 million – the bank said in a statement.
The CPN program for lower fuel prices will be maintained as long as the international situation does not calm down and is conducive to speculation – Wojciech Balczun, Minister of State Assets, informed.
On Tuesday the Council of Ministers will address, among other things, the draft report on the implementation of the medium-term budgetary-structural plan for 2025-2028 – according to the government agenda.
The Armed Forces Support Fund (FWSZ) increased its bond issuance plans for 2026 by PLN 2.9 billion to PLN 76.6 billion – as updated in the fund’s financial plan.
The final stretch of KPO fund utilization is a race against time, aiming to maximize funds for Poland, especially grant funds – Minister of Funds and Regional Policy Katarzyna Pełczyńska-Nałęcz informed. She reiterated that a total of PLN 100 billion should flow into Poland this year from KPO disbursements.
BGK continues disbursements from the EU 2021-2027 perspective; by April 24 it had paid about PLN 74.010 billion – BGK said.
CURRENCIES - currency rates, charts: dollar, euro, franc
From the World
Iran presented the United States with a new proposal to reopen the Strait of Hormuz and end the war while postponing nuclear negotiations to a later date – Axios reported on Monday, citing two sources with knowledge of the matter.
European Commission President Ursula von der Leyen assessed on Monday in Berlin that it is too early to lift sanctions imposed on Iran. She said that since the turn of February and March, the beginning of the US and Israel war against Iran, EU countries had paid €27 billion more for imported oil and gas.
US President Donald Trump and his national security team are skeptical of Iran’s proposal to end the war, which includes opening the Strait of Hormuz and delaying nuclear program talks – the Wall Street Journal reported, citing US officials.
At least seven ships, mainly tankers, crossed the Strait of Hormuz in the last 24 hours – Reuters reported on Monday, citing data from maritime monitoring firm Kpler and satellite image analysis. Most vessels departed from Iraqi ports, one from an Iranian port.
In Suspension
Today’s market day will unfold under the sign of anticipation. First, investors will wait for information about the war in the Middle East. In recent days Iran has proposed opening the Strait of Hormuz on its own terms, including postponing nuclear negotiations.
Leaks from the US administration suggesting Washington is reluctant to such an approach have appeared in the media. In response, oil prices at the start of the week are rising moderately, and Brent is already near $110 per barrel after a recent drop to around $90, the level reached in mid‑April after the announcement of a ceasefire and preliminary unblocking of Hormuz.
Next, investors await the results of central bank meetings, especially the Fed (ending Wednesday) and ECB (ending Thursday). In both cases, a stabilization of interest rates is expected. Key will be communication on future monetary policy stance, mainly in the context of responding to the energy crisis.
Foreigners’ share in the Polish labour market grows
Yesterday the MRPiPS published a study on foreign employment in Poland until the end of 2025. It includes, among other data, the number of foreigners insured with ZUS, indicating that the share of such people in the Polish labour market has been steadily increasing for over a decade. While in 2014 their share was about 1%, in 2025 it has approached 8% (7.9%), nearly 1.3 million people. The largest group is, of course, Ukrainians (about 66%), followed by Belarusians (about 11%).
According to ZUS data, 57% of insured foreigners worked under a contract of employment, and 36% under a contract of mandate. In the context of economic development, during a period of low unemployment (Poland’s unemployment rate is one of the lowest in the EU) and rising demographic challenges, the continued increase of legally employed foreigners is a beneficial phenomenon that supports a relatively high growth pace.
EUR‑USD with muted growth
Yesterday the main pair’s rate temporarily rose to around 1.1750. The move partly reacted to Iran’s proposals to open the Strait of Hormuz.
Then leaks reached the market that Washington finds Tehran’s conditions difficult to accept, raising risk aversion.
The EUR‑USD rise was neutralised and the day ended around 1.17, and this morning even a decline below that level is visible.
Zloty slightly weaker
Yesterday both EUR‑PLN and USD‑PLN rates slightly rose. In both cases, a correction of earlier sharp declines has been observed for over a week.
The direction of movements is consistently driven by sentiment related to the perception of prospects for normalisation in the Persian Gulf region.
National debt weaker
National debt was weaker at the start of the week. Yesterday the risk of extending the Strait of Hormuz blockade was assessed, supporting scenarios of higher inflation and interest rates. Yields on national benchmarks rose by 4‑6 basis points yesterday, further driven by a similar direction in base markets.
