The Export Credit Insurance Corporation (KUKE), a joint stock company, wants to increase the guarantees limit on behalf of the State Treasury. According to Rzeczpospolita unofficial sources, KUKE is negotiating the increase of the limit by ZL2bn. The current limit is ZL6.5bn, and has not been increased for several years.
Last year only 40 per cent of the total guarantee limit was utilised, but at the end of July 2003 it was already at 50 per cent of capacity. Therefore, this year the company expects the whole limit to be used.
A great burden for the company is the guarantees for shipyards Stocznia Szczecinska and Stocznia Gdynia. They use their total permitted guarantees, which account for 11 per cent of KUKE’s annual budget. The maintenance of the guarantees at the present level diminishes KUKE's capabilities as far as guarantees and insurance on behalf of the State Treasury are concerned.
