Ukraine war hampers post-epidemic economic recovery, says Duda

Marcin Obara/PAP

Andrzej Duda, the Polish president, has said that Russia's war on Ukraine has stifled Poland’s economic recovery from the Covid-19 pandemic.

Talking at a business event in Warsaw on Monday, Duda said that Poland had coped well with the coronavirus pandemic but the war in Ukraine had brought another challenge for the Polish economy.

To deal with the pandemic in March 2020 the Polish government had adopted an "anti-crisis shield" which "poured money into the market in an unprecedented way," Duda said.

"We had no doubts that if we had not acted through state intervention in the economy, if we had left it to market forces that were disrupted by the coronavirus pandemic, we would have been dealing with a social tragedy, and factors such as long-term and catastrophic unemployment," Duda said.

He added that at the time it was difficult to predict that the pandemic would be followed by war.

"Today we are dealing with a war, which causes a whole range of repercussions on the international and economic markets, and unfortunately does not allow the post-pandemic situation to calm down, which we all had hoped for," Duda said.

According to the president, the impact of rapid increases in energy prices has largely eliminated the possibility of a quick return to post-pandemic economic growth.

"Today, we still have problems on the market. Unfortunately, there are no signs that they will be resolved quickly" Duda said.