Speaking in Paris at celebrations marking the Council of Europe Development Bank’s 70th anniversary, Domański said the bloc faces “conflicting demands” of higher military spending and an ambitious energy transition “against the backdrop of limited fiscal space.”
“Global players are turning up the heat with new trade rules and fierce price competition,” he said, noting that the continent’s estimated annual investment gap has jumped to EUR 1.2 trillion from EUR 800 billion in a year.
The minister urged a push to deepen capital markets, simplify regulations and link business more closely with governments.
“Without growth Europe will lose the race,” he said, lamenting that the region’s researchers pioneer breakthrough ideas but the commercial gains “end up with U.S. or Asian tech giants.”
Domański cited artificial intelligence as a field where Europe trails in deployment. He argued that a cap-gear market union is essential to closing the investment shortfall and keeping EU industry competitive.
He praised the Council of Europe Development Bank, which has invested more than EUR 93 billion in 2,300 projects, including over EUR 8 billion in Poland since it joined in 1988.
Current lending to Poland totals EUR 2.4 billion for healthcare, housing and disaster-prevention schemes, bank president Carlo Monticelli said.
(jh)
Source: PAP