June 6, 2020 / 7:29 AM / a month ago

Poland's PM hopes economy will shrink by less than 4% this year

FILE PHOTO: Poland's Prime Minister Mateusz Morawiecki waves as he leaves after the second day of the European Union leaders summit, held to discuss the EU's long-term budget for 2021-2027, in Brussels, Belgium, February 21, 2020. REUTERS/Francois Lenoir/File Photo

WARSAW (Reuters) - The Polish economy could shrink by less than 4% this year, while the unemployment rate will likely remain below 10%, Poland’s Prime Minister Mateusz Morawiecki said on Saturday.

Poland has announced a rescue package worth over 300 billion zlotys ($76 billion) to help its economy survive the coronavirus crisis.

“I have a serious not only hope but also macro basis to believe that (the unemployment rate) will not be double-digit, and even that it will be lower than economists had expected a month ago,” Morawiecki told RMF radio.

“The fall in GDP expected by most financial institutions is 4%. I hope it will be lower than forecasts,” he also said.

Reporting by Agnieszka Barteczko and Anna Wlodarczak-Semczuk; Editing by Mark Potter

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