The Polish government will support the economy with a package worth almost 9 billion euros

The Polish government will support the economy with a package worth almost 9 billion euros

The Polish government will support the economy and companies damaged by the new coronavirus pandemic with a package worth almost 9 billion euros. This was stated by Polish Prime Minister Mateusz Morawiecki. The Polish economy coped with the first wave of the pandemic much better than many other economies, but after a strong recovery during the summer, it is in danger of slipping into recession in the fourth quarter. According to Morawiecki, it is currently crucial to save the companies that are worst off and to continue to support the business sector and employees in 2021. He added that the value of the program will range from 35 billion to 40 billion zlotys (7.83 billion to 8.95 billion euros). About 3 billion zlotys should go to micro-enterprises, 5 billion zlotys to small businesses and the remaining volume to medium and large enterprises. According to the head of the Polish Development Fund Pawel Borys, a quarter-on-quarter decline in the Polish economy by 3 to 4% is expected in the fourth quarter. Next year, the situation should gradually improve, with the fund expecting economic growth of 4 to 6% for the whole year.