Economics
Polish Stocks Count $50 Billion Cost One Year After Duda Win
- Benchmark WIG20 Index falls most worldwide this quarter
- Banks hurt from new tax to fuel social spending: NN Investment
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Twelve months on from Andrzej Duda’s surprise initial victory in Poland’s presidential elections, stock investors are fleeing the country. And there’s little sign they will come back any time soon.
The benchmark WIG20 Index has suffered the worst losses worldwide this quarter among 93 gauges tracked by Bloomberg in dollar terms, exacerbating a rout that’s wiped $50 billion off Poland’s market capitalization since Duda triumphed in the first round of voting on May 10 last year. NN Investment Partners and Blackfriars Asset Management Ltd. say the declines will continue unless the Law & Justice government changes course.