EU recovery funds could boost Poland's GDP by 0.6 percent says MinFin

A multi-billion-euro EU post-pandemic recovery fund would add 0.6 percentage point to Poland's GDP next year, a deputy finance minister has said citing the ministry's estimates.

The EU has locked Poland out of the funding due to a protracted rule-of-law dispute.

On Thursday, Artur Sobon told a press conference that EU funds owed to Poland under its national recovery plan (KPO) are of "absolutely fundamental importance" to the Polish economy.

"According to... our calculations, funds from KPO mean 0.6 percent of GDP more in 2023 and 1 percent more in the following years," he said.

"This in practice, given low GDP next year, which under various analyses may reach, for example, 1.5 percent, translates into one-third of our (economic - PAP) growth," he added.

According to the budget bill for next year, approved by parliament in mid-December, Poland's GDP growth will slow to 1.7 percent.

Analysts surveyed by PAP in December expect GDP growth to reach 0.7 percent in 2023.