EC approves Polish support program

The European Commission has approved the Polish government’s business stimulus package to support small and medium-sized enterprises (SMEs) worth €16.6 billion. The program has been created to combat the current coronavirus pandemic.

Margrethe Vestager, Executive Vice-President of the European Commission for a Europe fit for the Digital Age (Competition), has said that this measure would serve as assistance for 376,000 firms in Poland to minimize economic losses and maintain operations in the post-pandemic period.

An estimated 350,000 microenterprises and 26,000 SMEs have to report the decrease of income by at least 25 percent after February 1 compared to the previous month or the same period of 2019.

(ISBnews)