Poland's economy will likely expand by 5 percent in the coming two or three years, according to the head of the Polish Development Fund.
State aid programmes for micro, SME and large companies during the pandemic stabilised their financial situation, the president of the Polish Development Fund (PFR) has said.
The Polish Development Fund has channeled billions of funds to companies struggling with the economic effects of the Covid-19 pandemic since it began in the spring of 2020.
A PLN 25-billion (EUR 6.43-billion) financial shield, to be launched next week, offers liquidity and preferential loans to large companies hit by government-imposed Covid-19 related restrictions.
Poland's economic growth could reach up to 5 percent this year, but if the coronavirus restrictions are prolonged for a considerable time, GDP expansion may be as little as 2 percent, the head of the state-run development fund PFR, Pawel Borys, has said.
Digitalisation in Poland's bigger firms significantly accelerated during the coronavirus pandemic, according to a survey by the Humanities Institute, an organisation focusing on social change.
Polish companies will receive a total of nearly PLN 7 billion (EUR 1.6 billion) from the Polish Development Fund's (PFR) 'financial shield' as part of the assistance programme designed to counteract the effects of the coronavirus pandemic.
Poland's Venture Capital funds market is developing rapidly, with 2020 being a record year, the head of the state-owned Polish Development Fund (PFR) Ventures has said.
The Financial Shield 2.0 passed by the government will provide support for 45 sectors damaged by the coronavirus crisis, the head of the state-owned Polish Development Fund (PFR) said on Tuesday.
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.