Poland's economic activity at lowest in April - official

Head of the Polish Development Fund (PFR) Pawel Borys said on Monday that, in his opinion, Poland's economic activity had found itself at its lowest in April, but expressed conviction that the worst was likely behind the country. Addressing a conference on the market of funds and its functioning during the epidemic, Borys admitted that the second quarter of 2020 "will surely be difficult." "We have to take into account a deep recession ranging from 10 to 15 percent," Borys said. "Many enterprises -- according to our estimates, over 50 percent of the Polish economic sectors -- have been experiencing a strong drop in revenue, by at least 20-25 percent."