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Polish government adopts new plan to increase income

Xinhua, February 15, 2017 Adjust font size:

Polish government on Tuesday approved the new Strategy for Responsible Development which will enable Polish families to increase income so that by 2030 it can get close to European Union's average, Polish Deputy Prime Minister Piotr Glinski announced at a press conference.

Glinski, who presided over the government meeting in absence of Prime Minister Beata Szydlo, who was hospitalized after Friday's car crash, said that the strategy will focus on promoting innovation, providing capital for investments, preparing plans for sustainable development and increasing the volume of export as well as certain reindustrialization initiatives.

The strategy envisioned that the average income of Polish households will reach 76 to 80 percent of the European Union average by 2020 and come close to the EU average by 2030.

The plan also called "Morawiecki Plan" named after deputy PM and Development and Finance Minister Mateusz Morawiecki. He said at the same day that demographic and institutional problems, the middle income trap, the average product trap and the dependent development trap were the main obstacles that need to be overcome. Endit