Poland’s PM hopes economy will shrink by less than 4% this year By Reuters

Poland's PM hopes economy will shrink by less than 4%


© Reuters. FILE PHOTO: EU leaders summit in Brussels

WARSAW (Reuters) – The Polish economy could shrink by less than 4% this year, while the unemployment rate will likely remain below 10%, Poland’s Prime Minister Mateusz Morawiecki said on Saturday.

Poland has announced a rescue package worth over 300 billion zlotys ($76 billion) to help its economy survive the coronavirus crisis.

“I have a serious not only hope but also macro basis to believe that (the unemployment rate) will not be double-digit, and even that it will be lower than economists had expected a month ago,” Morawiecki told RMF radio.

“The fall in GDP expected by most financial institutions is 4%. I hope it will be lower than forecasts,” he also said.

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