Business correspondent David Kennedy gives the heads up on the government’s economic shield and on how the pandemic is likely to affect business.
See the full interview here.
Poland IN’s business correspondent David Kennedy says that the government’s economic shield package was put together at great speed and is bound to have holes in it. He believes that we are in uncharted territory and the government is right to resist calls for “helicopter cash”. According to our analyst the government is concentrating on helping small companies and protecting jobs. But the lack of tax holidays is concerning many businesses.
In terms of winners and losers out of the crisis David Kennedy believes that food, retail, communications and IT equipment merchandisers will do well, whereas road haulage and the clothes industry will fare badly as a result of a drop in orders.
Inevitably public finances will take a hit. But Poland has considerable capacity to increase its borrowing to help it ride out the storm.