Without GDP growth we will be defenseless. Domański: We can afford 5%. for the army

Without GDP growth, we will be really susceptible to external shocks, Finance Minister Andrzej Domański told “Politico” in the context of preparations for the upcoming EU summit in Belgium, devoted to the competitiveness of the EU economy.

Domański added that Poland is able to spend “close to 5 percent of GDP on defense because we have increasingly higher tax revenues.”

As the Brussels portal wrote, the minister assessed that the Commission and other EU decision-makers would have to “focus on growth, deregulation and more ambitious actions.”

EU countries are putting pressure on the European Commission to seriously focus on improving the economic situation of the community, fearing competition from other large players, such as the United States and China. Capital cities are pressing, among others: to keep money on the continent and abolish EU regulations that – in their opinion – harm key sectors of the economy. These issues are to be discussed at Thursday's EU summit on European competitiveness, which will be held at Alden Biesen Castle in Belgium.

During the meeting, the heads of state and government will hear statements from two former Italian prime ministers, now considered economic visionaries – Mario Draghi and Enrico Letta. The program – as Politico wrote – includes, among others: reforming the European market, boosting productivity and dealing with an increasingly uncertain economic environment.

From Brussels Łukasz Osiński (PAP)

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