Poland plans to privatise hundreds of businesses in a move that will halve the state-owned sector's contribution to the economy and give a shot in the arm to the Warsaw stock market.The state will retreat from large areas of the economy - including tourism, shipyards, publishing and construction - under plans to sell off 740 companies within four years, the Treasury minister has told the Financial Times. Aleksander Grad said the sell-off would reduce the footprint of Poland's government-owned companies from 20 per cent of GDP to no more than 10 per cent. "The role of the state in the economy will be much more limited," he said. The programme is expected to bring in about 30bn zlotys ($13.7bn, €8.9bn, £7.1bn) over four years. The government has only a minority stake in about half the companies to be privatised and selling these stakes made financial sense, said Mr Grad. "We analysed whether it is better to sell the remnants or count on the dividends. We worked out that it is much better to sell."
Poland plans to privatise hundreds of businesses in a move that will halve the state-owned sector's contribution to the economy and give a shot in the arm to the Warsaw stock market.
The state will retreat from large areas of the economy - including tourism, shipyards, publishing and construction - under plans to sell off 740 companies within four years, the Treasury minister has told the Financial Times. Aleksander Grad said the sell-off would reduce the footprint of Poland's government-owned companies from 20 per cent of GDP to no more than 10 per cent. "The role of the state in the economy will be much more limited," he said.
The programme is expected to bring in about 30bn zlotys ($13.7bn, €8.9bn, £7.1bn) over four years.
The government has only a minority stake in about half the companies to be privatised and selling these stakes made financial sense, said Mr Grad. "We analysed whether it is better to sell the remnants or count on the dividends. We worked out that it is much better to sell."
We analysed whether it is better to sell the remnants or count on the dividends. We worked out that it is much better to sell
Thank goodness for spreadsheets. They don't feature political functions.
