Polish economy may reach pre-pandemic level by end of next year - official

"Some companies from Europe or the United States are now cautious about locating investments in far-off Asia. Poland may benefit from this by attracting more foreign investment," Borys said. Tytus Żmijewski/PAP

Poland has a chance to return the economy to its pre-pandemic level by the end of next year, the head of the state development fund said on Tuesday.

"We have a chance to de facto reach the pre-coronavirus (epidemic - PAP) level of the economy by the end of next year,” Paweł Borys, president of the Polish Development Fund told the Super Express newspaper. “For many countries this could take one or two years longer (....) due to the fact that some countries have simply experienced greater declines in economic growth than Poland."

He said that Poland had not seen an increase in unemployment for a year and has one of the lowest drops in GDP growth, due to government aid worth PLN 150 billion (EUR 33.34 billion).

The epidemic, though hugely destructive, may attract more foreign investment, Borys also said.

"Some companies from Europe or the United States are now cautious about locating investments in far-off Asia. Poland may benefit from this by attracting more foreign investment," he said.