WARSAW, Sept 20 (Askume) – The European Union has pledged 5 billion euros ($5.6 billion) to help Poland cope with its worst flooding in at least two decades, Finance Minister Andrzej Domanski said on Friday, warning the promise of impact may not be fulfilled.
The European Union will provide billions of euros to help central Europe recover from devastating floods , European Commission President Ursula von der Leyen said on Thursday .
“We know the losses are huge, very huge, although we don’t know the exact numbers yet,” Domanski told broadcaster TVN.
“So I think this amount, this 5 billion euros, is enough for Poland. But that doesn’t mean it’s enough to cover all the losses.”
Poland expects its total government deficits to be 5.7% and 5.5% of gross domestic product (GDP) in 2024 and 2025, respectively.
Domanski has previously said he supports a four-year deficit reduction path.
He said, “I will fight for this path of fiscal adjustment, which limits the deficit in the coming years and adapts it as gradually as possible to the special circumstances in which Poland finds itself.”
Warsaw cited increased defence spending following Russia’s invasion of Ukraine, as well as the COVID-19 pandemic and energy price shocks in recent years as the main reasons for the rise in deficit levels.
(1 USD = 0.8959 EUR)
