Thanks to the invitation to the G20, Poland sits at the most important decision-making table of the global economy, said Andrzej Domański, Minister of Finance and Economy of the Republic of Poland, on Thursday. He stressed that a quick end to the conflict in the Middle East is in our interest because high oil prices favor Russia.
On Thursday, the first meeting of finance ministers and heads of central banks within the G20 group took place in Washington, in which Poland participated as a full member. It was represented by Minister Domański and the President of the NBP, Adam Glapiński.
– Poland has a place at the most important decision-making table in the world economy – Domański told Polish media. He also emphasized that our country is in this place “thanks to the hard work of Poles and Polish entrepreneurs.”
According to the head of the Ministry of Finance, the talks concerned the conflict in the Middle East and the impact of this situation on the global economy and international trade, including oil prices.
One of the sessions was devoted to economic growth. – Poland has been repeating for many months that we need to focus back on economic growth, which is to be an end in itself, and not just a de facto by-product of wise policies. And we are very glad that the American presidency of the G20 has exactly the same philosophy, he added.
– It is thanks to the fact that Poland is today the fastest growing economy in Europe that we can spend 5%. our GDP for armaments. We can finance key investment projects. And we need more of this type of thinking in the global economy, which is why it's good that the American presidency has made it its priority, he said.
The meeting also discussed the imbalance in international trade. – Poland fortunately has a balanced foreign trade balance, but of course these imbalances exist globally and many member states have pointed out the associated risks for the global economy and economic growth – he continued.
He noted that next year the G20 presidency will be held by Great Britain, and in 2028 – by South Korea. – I am convinced that we will stay in the formats of the G20 Group for a long time – he added.
Domański emphasized that Warsaw uses the G20 format to remind about Russian aggression against Ukraine. He added that “high oil prices favor the Putin regime and therefore a quick end to the conflict in the Middle East “is in our best interest.”
During his visit to Washington, the minister met his American counterpart Scott Bessent. As he said, he thanked him for inviting Poland to the G20. – Secretary Bessent, the number one figure in the American economy, repeated in fact what we hear here at every turn. Poland in the USA is constantly cited as an example of a country that has achieved a successful economic transformation, a country that has built strong institutions and eradicated corruption, he said. – We are often shown as an example in the context of what path Ukraine can follow – he noted.
When asked by PAP about Bessent's announcement that the suspension of sanctions on Russian oil would not be extended, he said that “this is obviously a good direction.” – Sanctions are needed and sanctions work. We see this very clearly. The Russian economy is clearly weaker than Putin and his allies try to present it, the minister noted. – We have ample evidence from various sources that both inflation is higher in Russia and economic growth is clearly lower than official Russian data indicate – he added.
As he emphasized, Poland's role is to “constantly press for the implementation of subsequent sanctions packages and fight against their circumvention.” – Poland will not stop in these efforts – he declared.
On Wednesday, Bessent confirmed that temporary relief from sanctions covering the sale of Russian and Iranian oil loaded on tankers would not be extended. The license for Russian oil expired on April 11, and for Iran's oil expires on April 19. Bessent suggested that the cargoes of raw material exempt from sanctions had already been sold.
Trump: I invited Poland to the G20 because it is our friend
We are friends of Poland and that is why we invited it to the G20, said US President Donald Trump on Thursday. This is how he explained Poland's taking the place of South Africa during the Thursday meeting of G20 finance ministers and heads of central banks in Washington.
– Poland is a wonderful country. We like him very much. We are friends of Poland. The president is doing a great job. So that's why we invited her, Trump said during a conversation with reporters before flying to Las Vegas.
This was the answer to the question why the US invited Poland to participate in the G20 meetings instead of South Africa.
Taking over this year's presidency of the G20, US Secretary of State Marco Rubio announced that “Poland, as a country once trapped behind the Iron Curtain and now among the world's 20 largest economies, will join to take its rightful place in the G20.”
(PAP)
From Washington Natalia Dziurdzińska (PAP)
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