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POLAND: Anti-Crisis Shield 4.0

During yesterday’s assembly of the Council of Ministers, the government adopted the so-called Anti-Crisis Shield 4.0. The fourth alteration of the government’s socio-economic support package was spearheaded by the Deputy PM Jadwiga Emilewicz and the Development Ministry.

Most notably, the proposed law assumes: temporary measures preventing the takeover of Polish companies by non-EU investors, support for local government budgets; further facilitations regarding tenders; subsidies on bank loan interest for companies; credit holidays for those who lost their primary source of income after 13 March; further tax facilitation, including the right to deduct donations to social care institutions. (CEC will provide an in-depth overview of the proposed measures when the bill reaches the Sejm – most likely next week).

The Anti-Crisis Shield 4.0 was announced by Deputy PM Emilewicz a couple of weeks ago. However, the Development Ministry continued refining it until this week. The draft law will now be directed to the Sejm. Most likely, it will undergo parliamentary legislative proceedings during the next Sejm assembly, which is planned for 27-29 May. Once passed by the Sejm, the law will be directed to the Senate for further works.