Poland spent EUR 37.2 billion to support companies, save jobs

Labour Minister Marlena Malag on Tuesday said that under all forms of the anti-crisis shields Poland earmarked PLN 142 billion (EUR 37.2 billion) to help companies struggling with the coronavirus-linked crisis.

Malag told PAP that since the introduction of the first version of the anti-crisis shield, companies received some PLN 17 billion (EUR 4.45 billion) in wage subsidies for 4 million employees.

The Family, Labour and Social Policy Ministry said that the unemployment rate has remained at the same unchanged level of 6.1 percent for the past four months, while September was the second month running when the number of registered unemployed persons declined.

"This is a good sign and proof that the entrepreneur support package is working. According to our calculations, over 6 million jobs have been saved," Malag stressed.

Apart from subsidising salaries, the anti-crisis shield also includes redeemable loans for micro-entrepreneurs. So far some 1.86 million such firms have taken advantage of this form of assistance which reached the amount of PLN 9.24 billion (EUR 2.42 billion).

The government effort was supported by the Polish Development Fund's financial shield and coronavirus relief programmes aid shield offered by Bank Gospodarstwa Krajowego (BGK) state-owned development bank.