09:18 AM EDT, 08/28/2025 (MT Newswires) -- EUR/PLN rebounded to over 4.27 after Polish President Karol Nawrocki this week said that he won't back hikes in taxes proposed by the government as he won't agree to additional burdens on social groups to curb the deficit, while he hopes for alternative solutions, said Societe Generale.

Earlier this month, the finance ministry,, working on the 2026 financial planning proposed an increase in the corporate tax rate for banks to 30% from 19% and hiking the excise tax rate on alcoholic drinks to 15% next year.

Poland's deficit is the second widest in the European Union after Romania, which has announced a raft of austerity measures, noted the bank.