Polish Finance Minister announced that Poland has invested PLN 50 billion (EUR 10.67 billion), the equivalent of around 2% of the country’s Gross Domestic Product (GDP), in aid to Ukraine. This is the largest amount of funds ever allocated to support a foreign nation by Poland.
Magdalena Rzeczkowska presented the estimate at meeting of the Atlantic Council think tank in Washington D.C. on Friday.
“The total spending on Ukraine has amounted to up to 2 percent of our GDP, or PLN 50 billion, so it is indeed an important item in our budget,” the finance minister said.
Poland has seen a rise in Ukrainian refugees since the start of the conflict, and Rzeczkowska has reported that they have not had major difficulties finding jobs. This influx of refugees has had a positive effect on the country’s budget, as their taxes have contributed to it.
“Of course, we would like them to return to Ukraine as quickly as possible because it would mean that the war is over and Ukraine can grow,” Rzeczkowska said.
The Polish economy has been dealt a major blow due to the ongoing conflict in Ukraine, according to the country’s minister. Inflation in Poland is also at an all-time high, with the minister attributing this to the “importing” of the crisis. The minister argued that the current economic slowdown can largely be attributed to the war in Ukraine.