In response to the economic impacts of COVID-19, the Polish government has released financial mechanisms and policies which equate to nearly 12 percent of the nation’s GDP.
The following measures are among the key support mechanisms rolled out by the government for Polish businesses and residents:
– Wage subsidy program of up to 90 percent of minimum wages for each employee, which will be delivered through social insurance contributions;
– Expansion of loan financing and loan guarantee programs for small, medium, and large businesses;
– Forgivable loan program through the Polish Development Fund;
– Up to 100 percent exemption from social insurance contributions, dependent on the size of the business; and,
– Establishment of the COVID Fund to support public infrastructure and offset long-term impacts due to the virus