English Section

Poland expands financial aid for firms hit by pandemic

03.02.2021 12:00
Poland’s government has moved to expand its financial aid for firms hit by coronavirus restrictions, officials have announced.
Shopping malls were allowed to reopen in Poland this week after a partial easing of coronavirus restrictions.
Shopping malls were allowed to reopen in Poland this week after a partial easing of coronavirus restrictions.Photo: PAP/Albert Zawada

The support is available as part of a stimulus package known as Financial Shield 2.0, public broadcaster Polish Radio’s IAR news agency reported.

The measure was expanded on Tuesday to cover a further nine industries, among them education, retail and entertainment, the government said.

The move comes after Prime Minister Mateusz Morawiecki in November pledged billions in help for firms hit by coronavirus curbs amid a second wave of the pandemic.

He said at the time the package would be worth at least PLN 35 billion (EUR 7.8 billion, USD 9.3 billion), including PLN 3 billion for micro-enterprises, PLN 7 billion for small and medium-sized businesses, and PLN 25 billion for large companies in nearly 40 sectors.

After the expansion, the package will now be worth around PLN 38 billion (EUR 8.5 billion, USD 10 billion) and benefit more than 300,000 businesses, Deputy Prime Minister Jarosław Gowin said on Tuesday.

Help includes non-refundable subsidies, downtime pay, exemptions from social insurance contributions and additional social security benefits for employees.

Poland’s authorities in March last year unveiled a EUR 47 billion stimulus package to shore up the economy and shield the country from the impact of an intensifying coronavirus outbreak.

The Polish Prime Minister’s Office has said that some 6 million jobs have since been saved throughout the country.

(gs/pk)

Source: IAR, PAP