Polish government to stimulate small business growth
PR dla Zagranicy
Peter Gentle
17.09.2012 12:06
The Polish government has said it is working on a system of extending more credit for small and medium-sized firms, as Poland’s economy shows signs of a slowdown.
Prime Minister Donald Tusk is expected to reveal plans to guarantee loans for businesses at the end of September as a means of warding off recession in the Polish economy.
The business-oriented daily Puls Biznesu reports that there are ongoing talks between a government agency, which exclusively deals with security loans, and Poland’s state-owned bank, Bank Gospodarstwa Krajowego (BGK) to take over some of the credit guarantee tasks.
The Ministry of Finance is now working on an overhaul of the credit system to make it more friendly and accessible to business entrepreneurs.
The move comes after data released by Poland’s central statistical office (GUS) showed that GDP growth eased to 2.4 percent year-on-year in the second quarter of 2012, the lowest since the third quarter of 2009 and half a percentage point below forecast. (vj/pg)