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Stubnicki, Krzystof

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Rzeczpospolita - Poland | 25/09/2012

Poland's government must save building sector

The Polish construction industry is on the brink of collapse owing to large-scale miscalculations. Poland's Industrial Development Agency approved a loan of 45 million złoty (just under 11 million euros) for the struggling Polish construction company Polimex-Mostostal at the beginning of September. Writing for the conservative daily Rzeczpospolita economist Krzysztof Stupnicki says the government needs to step in and help: "Usually the government shouldn't help companies but one has to be clear that it is only correcting its own mistakes in doing so. After all, Polimex's liquidity problems are the result of government policy. ... The legislation on public calls for tender and the contractual practices of the state traffic authority GDKiA are pretty confused [and based on the lowest prices without checking whether they are at all practicable]. Unfortunately we are now all feeling the effects. And well managed companies that were previously able to get themselves out of difficulties in hard times are now facing financial problems."

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