Over EUR 22 billion in aid injected into Polish economy

Polish companies received PLN 100 billion (EUR 22.46 billion), some 5 percent of the country’s GDP under the government anti-crisis shield scheme launched 100 days ago.

Paweł Borys, head of the Polish Development Fund (PFR) writing on Twitter on Monday added that this meant that Poland spent PLN 1 billion (EUR 222 million) per day to save jobs and to protect enterprises.

Prime Minister Mateusz Morawiecki summing up the government's anti-crisis programmes launched in view of the coronavirus epidemic said on Monday that the PLN 100 billion was transferred to save 5 million jobs.

According to Borys, "data for May confirm that the economic downturn was in April, and now the economy has entered the next stage of expansion." "The strong rebound of retail sales in May (partly deferred expenditure) shows that retail sales dynamics have a 'V' shape while that of industry a 'U' shape," Borys wrote.