National Reconstruction Plan – Poland. Paweł Borys, president of the Polish Development Fund, on the impact on Poland’s GDP
Poland is still waiting for the approval of the National Reconstruction Plans (KPO). – I cannot imagine a situation in which we could get one of the management boards – Paweł Borys, president of the management board of the Polish Development Fund said on TVN24. As he signs, he counts on an agreement between the government and veneration as soon as possible.
Reconstruction Fund to revive the EU economy after the pandemic, based on the database of our time: transformation and digital. So that you can add your recovery plans. The Polish National Reconstruction Plan was delivered to Brussels in early May 2021. Our country is still waiting for the green light from the European Commission. And Brussels is setting tough conditions, including on court repairs.
The Polish Development Fund may be the operator of the National Housing Plan. – So our role is more accounting, to governments, what these funds will be spent on administration – explained Paweł Borys, president of PFR.
Poland – National Reconstruction Plan
The guest “One for One” on TVN24 was asked if money from the Reconstruction Fund is needed. – You are talking about the next two years, it is indeed important that investments become the driving force of the economy. One is already growing 11 percent at the present time. We have a lull when it comes to investments, the potentiometer from the reconstruction fund will certainly be able to obtain funds for profit, except for the two-year change point – commented the president of PFR.
Asked whether the lack of money from the reconstruction fund will translate into gross product (GDP) markers. – Not this year. This year, the government launched a strategic investment program from Bank Gospodarstwa Krajowego and it will accelerate public investments. Then, in the next year and the following years, of course, these funds will appear, they will appear, they will improve and have more funds for – Borys explained.
– I am convinced that it is in the interest of both parties – both Poland and the European Union – that there is an agreement as regards the KPO. We agree that this data has created us data for this, finances more investments, this time we would have better growth growth in recent years – just as beneficial for PFR.
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Each country takes the first tranche when the EC has approved a national spending plan, which has to take the first steps in the first. For the implementation of the National Reconstruction Plan, Poland is to receive EUR 58.1 billion, or about PLN 264, to be raised over the course of five years (EUR 23.9 billion for the facility and EUR 34.2 billion in the form of storage).
It is not known when the money will go to Poland. – As far as we know, checking the status is that the National Plan is fully aligned with the basis, while the current discussion is with the reform. Find out the knowledge I don’t have what the status is – said Boris. Like a delivery, he cannot imagine a situation in which Poland does not receive these funds. – I hope that they communicate as soon as possible, but for that you need two sides – she added.
The COVID-19 pandemic is an economy
Paweł Borys was asked how long we will pay the debts that we have incurred as a country in the fight against the COVID-19 pandemic. – We will pay them off in the next 3-4 years. Before the pandemic, debts drop from 50 to 45 percent of GDP. What we celebrate for several years almost in the budget or ends up in costs. In a pandemic, we increase ten debts by about 8 percentage points of GDP. So that about 200 billion that happened counteracting the pandemic – counteraction.
– Now we have a very large public finance exhibition again. The deficit for the last year is probably around 2 percent, so with strong economic growth, debt to GDP should drop in a moment – added the president of PFR.
Borys predicts that by 2024 “debt to GDP will fall below 50 percent again”. – pointed out that I noticed that the shields have investments. I will buy better to spend these on job protection than take unemployment benefits. People who pay contributions, pay taxes, and companies do. It was the name of the kind that already occurs in 2021 – investment – investment.
However, part of the money to fight the pandemic will not be included in the budget. On “unprecedented mechanisms”. in the analysis of the implementation of the state budget in 2020. Supreme control Chamber. – Exploitation was managed from the Polish Development Fund – 75 billion to help entrepreneurs for jobs and over 100 billion from Bank Gospodarstwa Krajowego under the covid fund. In the Polish Development Fund and Bank Gospodarstwa Krajowego, we issue liabilities guaranteed by the State Treasury, and we provide public finances to state finances, said Paweł Borys. that “the total debt of the public finance sector is below 55 percent (GDP – ed.)”.
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