Polish government adopts Strategy for Responsible Growth

Polish government approved the economic plan to invest over PLN 2 trillion into the economy by 2020. The Strategy for Responsible Growth will be funded from public and EU funds (PLN 1.5 trillion) as well as private capital (PLN 600 billion) and is aimed to boost the country's savings and investments which in result would increase the per capita income in Poland over this period to 75-78 percent of the average in the European Union (currently at some 69 percent). The strategy plans to launch 185 flagship and strategic projects which would result in new products and services “crucial to further development of the economy.” The government has also singled out strategic sectors of the economy which will be supported by the state, including electric vehicles manufacturing. Spending on R&D is set to reach 1.75 percent of GDP per annum and annual 7.2 percent growth in exports.