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Poland’s recovery plan to boost GDP by 2-2.5 pct in next 6 years

Earlier on Monday, President Andrzej Duda ratified the EU's post-pandemic recovery fund, paving the way for Poland to receive some PLN 250 billion (EUR 55 billion) in additional EU money.
Rafał Guz/PAP

The National Recovery Plan could boost the Polish economy by 2-2.5 percent over the next six years, an expert with the Polish Economic Institute has told PAP.

Tasked with rebuilding the post-pandemic economy, the plan relies heavily on EU funding.

Talking to PAP on Monday, Jakub Rybacki said that the impact of the National Recovery Plan (KPO) on GDP will be already seen next year and will peak in 2023.

“We forecast that the execution of the programmes presented in the National Recovery Plan will raise GDP by 2-2.5 percent over the next six years,” Rybacki said.

“The KPO programmes will help strengthen investments and will visibly increase employment in construction,” the expert added.

Earlier on Monday, President Andrzej Duda ratified the EU’s post-pandemic recovery fund, paving the way for Poland to receive some PLN 250 billion (EUR 55 billion) in additional EU money.

The EU has set up the EUR 750-billion fund to help European economies emerge faster from the coronavirus crisis.

However, the new cash injection may backfire with higher prices of goods and services, Rybacki observed.

“A faster growth in inflation will be a side effect, although it will probably appear with a delay of one year, namely in 2023,” Rybacki said.


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