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WIG20 in Poland Lowest Since June 2009

Warsaw’s primary stock index, the WIG20, has reached its lowest point since June 2009.

November has so far been the worst month for the index since December 2013. The WIG20 has fallen over 5% so far this month, where in December 2013 it fell 7%.

The index has been steadily falling throughout the year, despite rising GDP and falling unemployment statistics in the country. suggests the recently elected new government’s proposals to increase child benefit and introduce taxes on banks, among other policies, have spooked investors.

Analysts say the continued uncertainty over change of government, a general cooling in central and Eastern Europe, combined with an expected rate hike in the US are also factors in the outflow of money on the WIG20.

It is expected that the downturn will continue into the next year as Law & Justice’s (PiS) policy changes are introduced.

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