National Recovery Plan won't stop inflation: former deputy prime minister

After more than a year of negotiations, the European Commission approved in early June the National Reconstruction Plan (KPO), from which Poland is to receive a total of €36 billion, of which almost €24 billion in non-refundable grants and nearly €12 billion in the form of preferential loans. However, this does not mean automatic disbursement of funds. The money for implementing projects envisaged in the NIP will be released after Poland fulfills the so-called milestones concerning the rule of law, among others.

"The National Recovery Plan in itself is not a magic wand that will make inflation suddenly stop, but it certainly stabilizes the market, strengthens the zloty, restores credibility in difficult times," Jadwiga Emilewicz, MP and former Deputy Prime Minister, said.

As she pointed out, the KPO's approval signals that the investment projects provided for in it may begin, although Poland will receive the refund after completing the so-called milestones required by the European Commission. Apart from the changes in the judiciary, the requirements concern, among others, actions in the field of energy efficiency. Emilewicz emphasized that Poland will have little time to manage the NIP funds.

"Today, Poland is considered to be a frontline country. Many international meetings planned in Warsaw are sometimes canceled out of fear that military actions are taking place too close to Poland. The adoption of KPO evens the level of emotions, makes the Polish market stable and attractive again, and also increases the quality of doing business for Polish entrepreneurs," she added.

(Newseria)