As Prime Minister Mateusz Morawiecki emphasised, difficult times call for radical and brave decisions. ‘As part of the Financial Shield, whose aim is to protect jobs, we allocate over 1.5 billion zlotys every day to help businesses,’ the Head of Government said during his visit at the Flis manufacturing plant, which is a beneficiary of government aid to save jobs.
‘We will do everything we can to protect the Polish economy and jobs,’ the Prime Minister highlighted. ‘I believe that in six months to a year’s time, we’ll have come out of this crisis stronger,’ he added.
President of the Polish Development Fund Paweł Borys remarked that help from the Financial Shield is being provided to businesses in a very swift manner. ‘Entrepreneurs receive money to their bank account within 24 to 48 hours,’ he stressed.
Support under the Financial Shield
- Entrepreneurs have received a total of PLN 24 billion in 2 weeks.
- 117 thousand small and medium-sized enterprises have benefited from the aid.
- 1.2 million workers have been covered by the support.
We estimate that the shield may be used by as many as 670 thousand Polish companies which have suffered due to the coronavirus. Close to PLN 100 billion will be provided to micro-businesses, small and medium-sized enterprises, and big companies. The Polish Development Fund is in charge of implementing the programme.
Support under the Anti-Crisis Shield
- More than PLN 8.7 billion have allocated to preserving jobs.
- Almost 4 billion applications for aid have been submitted to the Social Insurance Institution (ZUS) and employment offices.
- 2 million jobs have received support.
- Approximately PLN 3 billion have been paid out from the Guaranteed Employee Benefits Fund (FGŚP) to safeguard jobs.
- Exemptions from contributions to the Social Insurance Institution have been granted for a total amount of PLN 1.6 billion.
- Over 550 thousand micro-loans for entrepreneurs have been made, amounting to nearly PLN 3 billion.
- Over 341 thousand payouts of down-time compensation have been made to the self-employed and workers employed under civil law contracts, totalling PLN 690 million.
- According to financial experts, the Polish Anti-Crisis Shield is the biggest of its kind in Europe.
According to our estimates, the amount of support offered as part of the Anti-Crisis Shield and Financial Shield will reach over PLN 312 billion. Both programmes are already helping to save 3 million jobs in total.
Condition of the Polish economy
We will not avoid a slowdown in 2020; however, it will be the lowest in the EU at -4.3%. During the same period, the GPD is expected to be -6.5% in Germany, -8.5% in France and -9.4% in Spain. The EU average is estimated at -7.4%.
The resilience of our economy is also confirmed by data from Statistics Poland. In the first quarter of the current year, Poland’s GPD increased by 1.9%.
Flis is a confectionery manufacturer established in 1992. The plant makes products for the domestic and foreign market. The IFS (International Food Standard) system is in place at the company. This standard is required by Europe’s biggest super- and hypermarket chains, among others. The company sells its confectionery products to such countries as Russia, Germany, France, Italy and Slovakia.
Flis has benefited from the support provided by the Financial Shield. Due to the coronavirus pandemic, the company’s turnover dropped by 35%. Thanks to government aid, the plant received more than PLN 1.7 million to preserve jobs.