Economy
20:50 20 May 2020
Post by: WBJ

EC recommends Poland to increase investment while ensuring stable debt

EC recommends Poland to increase investment while ensuring stable debt
Source: Pxfuel

Poland should pursue a fiscal policy ensuring debt stability, while increasing investment, as results from proposals for economic recommendations presented on Wednesday by the European Commission. The EC also draws attention to the need to protect the independence of the courts.

The EC points out that the outbreak of the Covid-19 pandemic has put the country in a completely new situation and its recession is forecast for the first time in three decades, but according to data provided by the Polish government, the impact of the epidemic on population health was relatively small, also thanks to early preventive measures taken, such as quarantine and social distancing.

"To date, the most negative consequences have been observed in the services sector (including transport, retail and wholesale, and in the entertainment industry), as well as in production, which was the result of disruptions in supply chains. To offset the economic effects of the restrictions imposed, the government introduced a set of funds worth around 9% of Poland's GDP (...), which include EU funding, " the document reads.

The EC estimates that in Poland government support focuses on stabilizing the economy in the short term by supporting employee incomes, providing funding to companies struggling with income declines, strengthening resilience and responsiveness in the healthcare sector and strengthening the financial system. However, he informs that government support also includes an investment program for medium-term recovery.

(PAP


poland
ec
courts
coronavirus
debt stability

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