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Friday | January 22 | 2021

Poland: New measures to support the economy amount to USD 10 billion

Poland is set to start a program worth about 9-10 billion dollars, meant to help the economy cope with the effects of the second wave of the coronavirus pandemic (Covid-19), Reuters reports.

The largest economy in CEE has weathered the first wave of the pandemic, but after a strong recovery in the summer it looks set to enter a recession in the fourth quarter, due to the effects of restrictions to stop the increase in confirmed cases of Covid-19.

The new program will be worth 35-40 billion zlotys ($ 9.33-10.67 billion), of which three billion zlotys for micro-enterprises, five billion zlotys for small businesses and the remaining 24-27 billion zlotys for medium and large companies.

During the first wave of the pandemic, the Warsaw government and the Central Bank of Poland adopted programs to support the economy, loan guarantees and liquidity measures worth more than 300 billion zlotys.

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