Lock-down trims 2 pp from Poland's GDP growth every month - FinMin

Every month of the national lock-down in the face of the coronavirus threat takes away 2 percentage points from Poland's GDP growth rate, Finance Minister Tadeusz Kościński said on Thursday.

Poland's budget law for 2020 has put the country's economic growth rate at 3.7 percent in 2020, but the figure will likely be downgraded when the full impact of the coronavirus epidemic can be better assessed.

"Every month of the Polish economy's shut-down may cost us a 2 percentage point reduction of the GDP growth rate," Kościński was quoted as saying by Polityka Insight, an analytical web portal, on its Twitter account.

"Despite the pandemic, we still plan issuances of 'green' bonds," Kościński was also quoted as saying.

According to the finance minister, the government may amend its anti-crisis shield, an economic relief programme, as required, even every two or three weeks.

The next such amendment will introduce more support for big companies, new investments and more e-administration, Kościński also said.

The Finance Ministry is not planning any spending cuts and will be looking for savings in public administration, the minister said.