EUR 245.5 billion is the total amount that Poland received from the European Union from May 1, 2004 till the end of December 2023 - according to the data included in the study. At the same time, Poland transferred EUR 83.7 billion to Brussels as membership fees, which lands the total balance of profits and losses from the EU presence at EUR 161.6 billion.
"In average, across this entire period, the EU funds were equivalent to approximately 2.1% of Poland's GDP. However, these transfers were lower than the inflow of foreign direct investments (FDI) resulting from the membership -which amounted to approximately 3.4% of Poland's GDP on average in the years 2003-2020" - the report said.
"Poland has been the EU's largest beneficiary of transfers from the bloc's budget (13.3% of gross transfers in 2021, and the next countries on this list, i.e. Italy, Spain and France received approximately 12% each) - although in terms of transfers per capita and in relation to GDP, the country ranked further" - the publication read.
As noted, 65% of funds were allocated to the implementation of projects under the EU's Cohesion Policy - mainly to improve transport, energy and social infrastructure. Meanwhile, just over 30% of funds were transferred to Poland due to applications from the Common Agricultural Policy programs. "2/3 of the amount is the so-called direct payments that ensure stability of agricultural income, and the remaining 1/3 of the amount is used to improve agricultural production conditions and create new jobs in rural areas" - the study explained.
It was also reported that thanks to the judicial reforms in Poland in early 2024, additional funds were unlocked under the National Recovery Plan - EUR 25 million in the form of grants and EUR 35 billion in the form of preferential loans. This money is intended to support the reconstruction of the Polish economy affected by the pandemic, and increase its resistance to future shocks - the item added.
The publication also added that accession to the EU made Poland an attractive location for foreign investments.
"The attractiveness of Poland is reflected in the dynamic increase in the value of foreign direct investments - from EUR 67 billion at the end of 2004 to EUR 360 billion at the end of 2023. During this period, the total value of foreign investments in Poland increased from EUR 156 to EUR 685 billion. Importantly, the increase in capital connections was not one-way. In the years 2004-2023, the value of foreign assets held by Polish entities increased almost 7 times, from EUR 63 to EUR 439 billion" - the authors of the report pointed out.
It was also reported that access to international capital markets enabled the import of modern technologies and know-how - and increased the investment rate. The conclusion of the report is that after 20 years of EU membership, Poland is an economy strongly integrated with foreign capital - with further development in this domain expected in the near future, especially in direct investments by Polish entities abroad".
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Source: PAP