Mar 11 • 06:00 UTC 🇵🇱 Poland Rzeczpospolita

SAFE 0% under fire from economists, unemployment rises, EU focuses on SMR

Economists in Poland express skepticism towards the SAFE proposal, while unemployment increases and the EU emphasizes the SMR initiative.

In a recent podcast episode of "Your Business," Polish economists discussed skepticism regarding the SAFE proposal, which suggests utilizing profits from the National Bank of Poland's gold reserves to fund defense spending. A panel found that 12 out of 17 economists believe that the central bank should refrain from such engagements, arguing that it could lead to long-term costs and undermine the independence of monetary policy. While some experts are open to transferring profits to the budget, they criticize linking those profits directly to arms financing.

Additionally, a bill regarding the Polish Fund for Defense Investments has been introduced in the Polish parliament, which serves as the presidency's alternative to the European SAFE program. This initiative indicates a significant shift in Poland's military funding strategy as it navigates its defense budget, particularly in the wake of rising unemployment levels, which also came under review during this discussion.

Moreover, the Łukasiewicz Research Network has launched a 10-year space research program aimed at developing satellite technologies and payloads. This initiative reflects Poland's ambition to enhance its technological capabilities, potentially contributing to future defense-related technologies and providing a boost to its scientific community amidst economic challenges.

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