Last Tuesday Polish government approved a new development plan for Poland based on five pillars: supporting investment & R&D spending, reindustrialization, foreign expansion of Polish firms as well as finding the right capital sources, an equitable division of the benefits, equitable development of the entire country.
The development plan is said to entail over PLN 1 trillion in investments in the coming years, financed mainly from EU funds, corporate savings and Treasury-controlled companies.
“This is a completely new development model for Poland. Today, we give Poles a new model of economic development. We want every Polish citizen – and not only selected groups – to have a chance to benefit from the development,” Szydlo said at the press conference.
In 15 years' time the average Polish citizen will earn as much as an average European Union citizen, Development Minister Mateusz Morawiecki, the author of the plan, said outlining his plan.
"Poland's economy has been growing for 27 years and we have burnt our growth drivers," deputy PM Mateusz Morawiecki said. "We need to change the paradigm."
The post-communist transformation has been built on an unsustainable level of debt, EU aid, CO2 cost exemptions, demographic conditions, low wages and low innovation, Morawiecki said.
To shift economic gears, Poland will pursue policy grouped in five key directions including reindustrialization, support for innovation, finding the right capital sources, foreign expansion and an equitable division of the benefits.
The program should lead to several measurable goals set out by the new government, to be attained in the horizon to 2020: achieving a per capita GDP of 79% of the EU average, boosting investments to 25% of GDP, raising R&D spending to over 25% of GDP, increasing the number of mid-sized and large firms to over 22,000, increasing the level of foreign direct investments of Polish firms by 70% and sporting industrial output increase which would outpace GDP growth
The program, adopted by the government Tuesday, was presented in part just Monday and largely reflects campaign themes from governing party Law & Justice (PiS) which had vowed to release a flood of new investments for fresh growth.
Source: The Warsaw Voice