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Poland prepares 24 billion euro crisis plan

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Poland prepares 24 billion euro crisis plan


Poland has prepared a 24 billion euro plan for the next two years, to boost the country’s economy in the face of the global financial crisis.

The programme reportedly includes increasing bank guarantees, loans to small-and medium-sized businesses, and investment in renewable energy sources.

But Prime Minister Donald Tusk says the plan is preventative and that Poland is “not in a bad situation despite the crisis.”

Poland will raise excise tax on alcohol and imported cars to collect money for increasing social aid. It has already attempted to bolster confidence in the banking sector by guaranteeing deposits worth up to 50,000 euros.

The global slowdown has prompted the government to lower its economic growth forecast for next year to 3.7 percent, compared with the previous outlook of 4.8 percent.

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