Poland's investments in the country set to surpass €150 billion this year, says Tusk
Investments in Poland in 2025 will surpass 650 billion zlotys (155 bln euros) as the country looks to take a leading role in Europe in areas such as logistics, green energy and artificial intelligence, prime minister Donald Tusk said on Monday.
Poland has ambitions not only to catch up with, but to overtake leading Western economies, the former European Council president - who last year returned to Polish frontline politics - said at an event at the Warsaw Stock Exchange (GPW).
"We are convinced with the government that this is a cautious estimate. Today I could actually announce that it will be closer to 700bn zlotys (€167bn) than 650bn. This is a record figure, which we haven't seen in the history of the Polish economy", Tusk said.
The funds will be allocated to develop Poland's railway network, ports, green energy, and cutting-edge technology including artificial intelligence. Poland's government will meet in the coming days with executives from Microsoft and Google for the US tech giants to finalise their investment in the country, Tusk added.
Ensuring a smooth supply of energy will be key for firms to keep investing in Poland, the prime minister said. The government is in the process of picking a location for a second nuclear power plant in Poland, he revealed.
Poland has, in recent years, stepped up its efforts to better compete with traditionally dominant European economies such as France and Germany and invest in critical sectors of its economy. Its GDP last year grew by 2.9% according to preliminary figures from Statistics Poland (GUS). By contrast, Germany's economy contracted by 0.2% last year.
The government expects Poland's economy to grow near 4% in 2025 partly thanks to the €35bn euros of EU funds that Brussels unlocked last year, Tusk said.
"We've decided to begin a new phase. Up until now we had dreamed of catching up with the most developed countries. To catch up with the most prosperous societies. Today is the moment when we can say that it's possible, here in Poland, to overtake those that relatively not long ago looked at us from above."
Poland's previous nationalist and EU-sceptic Law and Justice (PiS) government had decided to build a major European airport hub along with rail modernisation across the country. Those plans were initially audited, and then amended by the new administration led by Tusk's Civic Coalition (KO) party.
Among other plans is the building of a deepwater container port in Świnoujście on the Baltic coast. By 2032, Poland will have invested 180bn zlotys (€43bn) in its railways, Tusk also announced. Those investments would, among other things, support the transportation of goods from and to Polish ports, he said. "By 2030, we should triple the handling of cargo in Polish ports," Tusk added.
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