Poland among five EU countries least hit by virus crisis: official

Poland is among the five EU countries that have best weathered the coronavirus crisis, a senior official said on Friday.

Image: Henryk NiestrójPixabay

Image: Henryk Niestrój/Pixabay Pixabay licence

The country’s Central Statistical Office (GUS) said in an estimate released earlier in the day that the Polish economy shrank 2.8 percent in 2020.

Paweł Borys, CEO of the Polish Development Fund (PFR), a state-run investment vehicle, wrote on Twitter: „Better than previously forecast GDP data indicates that Poland is among the 5 EU countries that experienced the crisis caused by the pandemic the most mildly, with a chance of [making it into] the top 3.”

He added that Poland had “strong industry and exports” while consumption and the country’s labour market were stable.

Prime Minister Mateusz Morawiecki reacted to the new data by saying: “We are going through the recession more mildly than forecast.”

He added: “Support from the state budget and anti-crisis shields are fulfilling their purpose. This is a strong foundation for recovery.”

The Polish Prime Minister’s Office has previously said that some 6 million jobs have been saved throughout the country thanks to measures including a massive relief and stimulus package designed to shield the economy from the coronavirus.

The Polish economy contracted 1.5 percent in the third quarter of last year, after shrinking 8.4 percent in the second quarter.

The country’s GDP expanded by 4.5 percent in 2019 as a whole, after registering 5.3 percent growth in 2018, according to the Central Statistical Office.

Polish President Andrzej Duda on Thursday signed into law the country’s budget for 2021, which expects the economy to rebound and grow 4 percent as it emerges from the coronavirus shock.


Source: PAP

Radio Poland

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