EU Recovery Fund helpful for whole of Europe - PM

Mateusz Morawiecki, the prime minister, has said the European Recovery Fund should kick in the latter half of 2021 and “help the whole of Europe”.

The fund, which is attached to the next EU budget, is designed to help the European economy recover from the ravages of the pandemic.

"In reality, the fund has a chance to be launched from the third quarter of 2021,” said the prime minister. “Hopefully that will happen because these are large funds that will help the whole of Europe.

"Eighty percent of our exports go to European countries,” added Morawiecki. “We wish all European countries a quick rebound, also because there is a deep interdependence between our economies."

Even if the recovery process is delayed, the prime minister said, the Polish government has in store "large domestic investments which we will accelerate to make this stimulus work as soon as possible and translate it into higher economic growth."

The government has prepared, according to Morawiecki, a number of financial and investment measures that are already operational and "will work strongly in the coming years towards economic growth. It may turn out that we will exceed the GDP level from before the pandemic in the fourth quarter of 2021," said the prime minister.