The Ministry of Finance announced that, according to European Commission forecasts, in 2024 Poland will achieve “the highest GDP growth of the large European economies” at 2.7 %. It added that in Q2 of this year, consolidated Polish public debt as a percentage of GDP amounted to 48.2 %.

Finance Minister Magdalena Rzeczkowska said on social media that “there are reasons to look to the future with optimism and to expect an acceleration of economic growth”. She pointed out that the implementation of the 2023 budget “is assessed as unthreatened” and added that “we have signals of an increase in consumption and therefore also in tax revenues. We are already pre-financing the loan needs for 2024”.

Speaking to the Polish Press Agency, the head of the finance ministry stressed that “Polish public finances are transparent, observed by EU institutions and independent rating institutions.

“It is absolutely out of the question to hide anything. Public finances are also in a more than decent situation for postcovid times, in view of the energy crisis and the war beyond our eastern border. Europe is watching us with admiration”, she added.

According to the latest data from the Ministry of Finance, the budget deficit at the end of September 2023 was PLN 34.7 billion, which is 37.7 % of the PLN 92 billion deficit allowed in the amended budget law for this year. Budget revenue amounted to PLN 418.0 billion, or 69.5 % of the amended Budget Act, and expenditure reached PLN 452.7 billion (65.3 % of the plan).

The state of the finances was also addressed by Prime Minister Mateusz Morawiecki in his Facebook post. “The next government will receive a budget in good shape. In better shape than anyone could have expected after the pandemic, the energy crisis or Russia’s aggression against our neighbour”, emphasised the head of government.

Adrian Andrzejewski