The Ministry of Finance informs that in 2023 following transactions were concluded on the financial market:

1. Interest Rate Swap Transactions (IRS) in domestic currency,
2. Cross Currency Swap (CIRS),
3. Exchange of foreign currency.

1. Interest rate swap transactions had maturity up to 1 year and their notional amount was PLN 64.0 bn. The aim of these transactions was to distribute debt servicing costs over the time within the years 2023-2024. As a result of concluded transactions debt servicing costs in 2023 has risen and in 2024 has decreased by PLN 5.2 bn. Transactions were concluded without generating market risk. The Supreme Chamber of Control did not raise any objections connected with the rationale and effectiveness of these operations. Settlement of transactions was undertaken according to Eurostat's guidelines and methodology. Information about transactions were included in the fiscal notification for 2023 delivered to the European Commission.

2. In 2023 the Ministry of Finance concluded cross currency swaps with maturity for 10 years. These transactions include the initial and final exchange of the nominal in two currencies at the same exchange rate and periodical exchange of interest cash flows calculated on the basis of nominal amounts and fixed interest rates agreed on the date of concluding the transaction. As a result of the conducted cross currency swaps the Ministry of Finance exchanged USD 3.5 bn for EUR 3.2 bn. During life of the transaction the Ministry of Finance will pay semiannually fixed interest in EUR and receive fixed interest in USD. These contracts were included in the fiscal notification for 2023 which was reported to the European Commission. In accordance with the Council of Europe legal act cross currency swaps change the currency structure of debt and therefore are accounted for in the calculations of the general government debt level. The Supreme Chamber of Control did not raise any objections connected with the rationale and effectiveness of these operations.

3. In 2023, as in previous years, Ministry of Finance exchanged foreign currencies on the financial market and in the central bank. Total exchange amounted to equivalent of EUR 15.5 bn. in National Bank of Poland and 4.5 bn. on the financial markets.The Supreme Chamber of Control did not raise any objections connected with the rationale and effectiveness of these operations.