Weaker private investment threatens growth of Polish economy: finance ministry
20:44
Weaker private investment is one of the threats to the growth of the Polish economy, according to Finance Minister Tadeusz Kościński.
"For me there are two big threats (for the economy - PAP). More than a quarter of Polish companies suspend investments, private investments are a big threat to us ... We must take so-called rational actions to eliminate as many administrative obstacles as possible and reduce taxes, but also emotional activities. I think it is underestimated in Poland, so that we would say that it will be good, that we will invest public money, then there will be jobs, people will spend money, the economy will grow, and it will also help private capital to be invested,” Kościński assessed.
On Monday, the Central Statistical Office (GUS) announced that investment outlays of enterprises in the first half of 2020 fell by 6.1 percent y/y and amounted to PLN 61.5 billion.
The finance minister said that apart from weaker private investments, a threat to the Polish economy is also the development of the economic situation in Europe.
"80 percent of our exports goes still to the EU, where the economies, unfortunately, do not perform as well as the Polish economy, the recession is much deeper there. This is a big threat to us, but it is also a chance that some suppliers will come to Poland,” he added.
(PAP)
