Maintaining high growth pace top challenge for Polish economy - FinMin

Finance Minister Teresa Czerwińska PAP/Adam Warżawa

The key challenge for Poland's economy is to maintain a high, lasting pace of economic growth, Finance Minister Teresa Czerwińska said on Monday.

Czerwińska took part in the inauguration of the 8th European Financial Congress in Sopot, north Poland.

The minister noted that "it is important that (the growth) be inclusive, that it embraces all social groups who will be able to benefit from the effects of such growth."

Minister Czerwińska also stressed the importance of "a change of the economy's structure to a more technologically advanced and innovative one." She argued that this will allow to "maintain and raise the potential pace growth in the future."

She recalled that while drafting the 4.0 economy model, the government plans to expand the scope of tax breaks for entities involved in R&D activities. The minister said that work is also being continued on preferences for entrepreneurs drawing profit from their patents, licences and copyrights. She assessed that there will be many more such solutions addressed to the entire sector.

The finance minister also envisaged a change in the model of financing the economy. She explained that "the economic policy will strive to raise greater involvement of domestic savings in building the economic capital."

She added that these goals must be implemented "while keeping public finances stable. This calls for the need to pursue a budget policy in tune with all norms and fiscal limitations."

This year's congress, held under the slogan "On the centenary - for an innovative and secure future of the financial sector," is, according to organisers, one of the most important events on the Polish financial market. The three-day event will end on Wednesday.