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Polish Parliament adopts economic relief plan

MNB

Photo by Adam Kurylo/Shutterstock.com

The Polish Parliament on Saturday adopted a multi-billion relief plan aiming to counteract losses caused by the coronavirus pandemic to the country’s economy.

The Sejm, the lower house of the Polish Parliament. Photo by Adam Kurylo/Shutterstock.com

The program is to deliver a massive injection of funds from state coffers in order to protect jobs, help the country’s entrepreneurs and maintain the liquidity of businesses hit by the coronavirus.

The debate took place with a limited number of deputies in the main chamber of parliament. Other MPs attended remotely after lawmakers on Thursday approved changes to in-house regulations allowing them to use distance technology to limit face-to-face interaction.

Under the plan, the government will dole out up to 40% of the average monthly salary to employees working for companies in financial trouble, state news agency PAP reported.

Meanwhile, the self-employed and small businesses employing up to nine people will have their social security contributions (ZUS) paid for by the government for three months, PAP added.

The planned stimulus package carries PLN 30 billion (EUR 6.6 bln) in funds for employee security programs, PLN 73.2 bln (EUR 16.11 bln) for enterprise financing, PLN 7.5 bln (EUR 1.65 bln) for healthcare, PLN 70.3 bln to strengthen the financial system, and PLN 30 bln for public investment, public broadcaster Polish Radio’s IAR news agency reported. 

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