Plan for increasing gov't savings is required: Development Minister

Speaking to journalists in London, Morawiecki, a former banker, said: “Over the next six months, I would like to propose a set of serious proposals, solutions, and instruments that will support savings in the economy, especially long-term savings, including retirement savings,” Morawiecki said.

He was speaking on the sidelines of a London conference for institutional investors, organized by Bank PKO BP in cooperation with the Warsaw Stock Exchange, on the capital market in Poland and in Central and Eastern Europe.

At present, pension plans for Polish employees and individuals total only around PLN 10-11 billion, or around 0.6 - 0.7 percent of GDP, he said.

Morawiecki noted that he did not even want to compare the figure to that in France or Italy, because the figure is “microscopic”. (rg/pk)

Source: PAP