Poland aims to spend EUR 7 bln on reprivatisation

Poland plans to spend PLN 30 billion (EUR 7.1 billion) over the next ten years on re-privatisation. Additional money is to be collected from local governments, the Rzeczpospolita daily newspaper reported on Monday. Rzeczpospolita reported that the Ministry of Justice had changed its own reprivatisation bill. The ministry wants the state to allocate PLN 30 billion (EUR 7.1 billion) in 2018-2028 to compensate former owners and their heirs whose property was seized by the communist government after World War II. According to the newspaper, payouts will be made in installments. Next year, PLN 4 billion (EUR 950 million) will be paid out, followed by PLN 6 billion (EUR 1.4 billion) in 2019, PLN 4 billion (EUR 950 million) in 2020, the same amount in 2021, and PLN 2 billion (EUR 470 million) in each subsequent year.