Poland Says Ready to Ratify EU Stimulus Fund on Tuesday

(Bloomberg) -- Poland will most likely ratify the European Union’s pandemic stimulus in a parliamentary vote on Tuesday after the government won backing for the plan from one of the opposition parties.

The three-way coalition has for weeks lacked the majority to approve the bloc’s 800 billion euro ($968 billion) recovery fund due to internal disagreements. In the end, the ruling Law and Justice party agreed to demands from the Left in exchange for its support.

“Everything indicates there’s a majority in favor of the pact,” Waldemar Buda, a deputy minister of EU funds and regional policy, said on Friday. “Our understanding is that the support from the Left is real.”

With its decision to call a special parliament session next week, the bloc’s largest eastern member is seeking to allay concerns it’ll be a laggard in the ratification process.

Polish government will send its European Union-funded national recovery plan for approval by the European Commission on Friday even as the deadline for submissions has been extended.

“Poland doesn’t want to wait and intends to be somewhere in the middle between the countries that are ready with the Fund and those that have yet to work on it,” Buda said.

The government’s more comprehensive investment and development plan known as the New Deal is likely to be unveiled on May 15. It’s going to outline in detail how the Poland wants to help the economy emerge from the pandemic, he said.

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