The world of increased inflation will stay with us for a long time, and the November projection suggests that the Polish economy is heading towards a slowdown. The growth of domestic consumption is slowing down, and the reluctance to spend money may be the result of uncertainty and fears about the future. The world will probably face trade wars, from which everyone will lose - says Ludwik Kotecki, member of the Monetary Policy Council. In the latest episode of the Compound Proportion podcast, we look at key issues related to the Polish economy and public finances. Our guest, a former member of the Monetary Policy Council and an expert with experience in the Ministry of Finance, discusses the state of public finances and explains what consequences the European Union's inclusion in the excessive deficit procedure may have for Poland. He also explains why high inflation is a threat to the economy, and we discuss the growing debt. In addition, we address the challenges facing the Polish economy and wonder whether the introduction of the euro could already be profitable. We also do not ignore the topics of the current situation on the real estate market, interest rate policy and the activities of commercial banks. English: 00:01:30 Work on the Monetary Policy Council 00:04:40 The state of Poland's public finances 00:13:20 What does the EU's inclusion of Poland in the excessive deficit procedure mean 00:17:30 Why high inflation harms the economy 00:19:30 Poland's growing debt in the coming years 00:25:00 Is a return to privatization necessary to reduce Poland's debt? 00:27:00 The biggest challenges for the Polish economy in the medium term 00:32:00 Can the introduction of the euro in Poland already pay off? 00:37:00 Upcoming trade wars – what will be their consequences for the economy? 00:46:00 Poland's current economic situation 00:51:00 Does the November inflation projection suggest an acceleration of interest rate cuts? 00:56:00 Are Polish commercial banks earning too much at the moment? 01:01:00 Why are politicians so focused on the real estate market? 01:06:00 Will the National Bank of Poland ever start investing significant funds in the Warsaw Stock Exchange? 01:09:00 Working at the Ministry of Finance during the biggest financial crisis in decades