Poland's unemployment unlikely to exceed 10 percent this year - fund CEO

According to Borys Poland has a chance to protect against a significant increase in unemployment, above 10 percent. Piotr Nowak/PAP

Head of the Polish Development Fund (PFR) Paweł Borys said that Poland's unemployment rate was rather unlikely to reach above 10 percent in 2020.

"Poland has entered the current crisis having strong foundations, namely, the lowest unemployment rate in history, (...) and an employee-oriented labour market. Of course, this will change. We have nearly one million Ukrainians working in Poland, and it is unknown if all of them will continue working. All this means that we have a chance to protect ourselves against such a significant increase in unemployment, above 10 percent," Borys told Radio Zet.

Economists polled by PAP believe that Poland's unemployment rate will grow to 7.5 percent at the end of 2020. The survey was carried out on April 1-3.

The unemployment rate in February 2020 amounted to 5.5 percent.