On Friday, the president of the National Bank of Poland, Adam Glapiński, held a press conference, where he explained the reasons for raising interest rates and announced that this was not the end of the rate hike cycle. Glapiński spoke for two hours and only after more than 120 minutes were the journalists present in the room able to start asking questions. Between answering questions about the pay rise cycle and forecasts, the head of the central fuel tank unexpectedly referred to the assault he was alleged to have endured and which concerned the amount of his salary.

– There were also attacks that the president of the National Bank of Poland earned exorbitant money and gave himself bonuses. A politician, God bless him, he excels in this, but our salary is in accordance with the law and published as the only bank in the world – he said.

Glapiński, Fr. “stimulates natural jealousy and jealousy “

He explained that the salary of the president of the NBP is around 25 percent. salary, no benefits, CEO of nine major banks.

– You can say: why not 1 percent. or why he earns any money at all, but this is a matter of institutional and state prestige. We are a bank that contributes PLN 11 billion to the state budget, has a large amount of money and large reserves, which is the responsibility associated with this remuneration. There is also great risk in making decisions. For this you pay the president, the board, the director – he argues.

He added that directors can count on remuneration equal to that received by directors in private banks, which is necessary for NBPs to compete with private entrepreneurs. In turn, board members “earn far less than commercial bank presidents, out of courtesy and not to annoy people.”

“But you can still evoke the natural envy and envy here,” he said.

Adam Glapiński makes the same mistake a second time

For the second time in two minutes, he also referred to the fact that nowhere else in the world publishes information on the earnings of NBP management board members and directors.

In this sentence, one information is true and the other is false. In fact, in February 2019, the Act amending the Law on the restriction of conducting business activities by persons performing public functions and the Law on the Polish National Bank, which introduced public remuneration for the president, vice president, members of the NBP management board and persons holding directorship positions, shall come into effect.

However, it is not true that publishing this information is a phenomenon on a global scale. The Concrete24 Service has listed several European countries where the salaries of certain people employed at the central bank were published a few weeks ago. The website prepared this list after Adam Glapiński boasted in April that the institutions he manages are subject to some particular scrutiny. A month has passed and no one in Adam Glapiński’s entourage has indicated to the boss that he was wrong – although it is also possible that the president repeated this information, even though he is aware that it is not.

Adam Glapiński did not mention that he was responsible for the fact that from 2019 there was an obligation to publish information on remuneration. The action was in response to disclosures made by Gazeta Wyborcza that two department directors at NBP earned PLN 65,000 each. PLN per month.

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