Once upon a time, it looked likely that Poland would eventually join the 19-country euro zone.Yet over a decade after the Eastern European country joined the European Union in 2004, Poland is doing just fine.

Arguably, the country is doing better than if it had joined the the single currency—something Poland's top finance official hastened to point out on Saturday as a reason to stay on the sidelines.

"The balance of risks and benefits (of joining the euro) has changed," Poland's finance minister Mateusz Szczurek told CNBC Saturday.

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Speaking from the meeting of European finance ministers in Luxembourg, the official said that his country may "need to calculate more on what needs to be done before Poland considers joining the euro zone."



Indeed, Poland is one of Europe's fastest growing economies, expanding at a rate of 3.4 percent in 2014. This year, the European Commission forecasts Poland's gross domestic product (GDP) to grow 3.3 percent, while it expects the euro zone to see 1.5 percent GDP growth.