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Friday, September 17, 2021

Budget for 2022 – the government has adopted the draft budget act. Assumptions – GDP, inflation, deficit, revenues, expenses

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The draft budget act for 2022 was adopted by the government. Budget revenues are to amount to PLN 475 billion, expenses to PLN 505.6 billion, and a deficit of PLN 30 billion, i.e. 2.8 percent of the Gross Domestic Product (GDP).

– The Council of Ministers has approved the draft budget for 2022 – said Minister of Finance Tadeusz Kościński during the Tuesday press conference.

According to the draft, budget revenues are to amount to PLN 475 billion, expenses to PLN 505.6 billion, and a deficit to PLN 30 billion, i.e. 2.8 percent. GDP. According to the draft budget act, GDP growth in 2022 is expected to amount to 4.6 percent. compared to 4.9 percent expected this year.

– The draft takes into account the effects of the implementation of the Polish Order, but it does not take into account the effects of the implementation of the National Reconstruction Program – said Deputy Minister of Finance Sebastian Skuza during the conference.

The draft provides that the state public debt in 2022 will amount to 42.6 percent. GDP will fall from 45.1 percent. GDP in 2021 and 47.8% GDP in 2020. The debt of the general government sector is to amount to 55.5%. GDP.

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Macroeconomic assumptions for the draft budget for 2022

From the macroeconomic assumptions for the draft budget adopted in June by the Council of Ministers, next year’s GDP growth is expected to amount to 4.3%. compared to 3.8 percent in the current year.

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The macroeconomic assumptions show that at the end of 2022 the unemployment rate in Poland is expected to be 5.8 percent. compared to 6 percent forecasted at the end of 2021. and 6.2 percent at the end of December 2020.

In 2022, the average wage in the national economy is to increase by 6.4 percent, while in 2021 the wage growth is expected to reach 6.2 percent. (5% in 2020).

The scenario adopted by the government assumes an average annual increase in the prices of consumer goods and services by 3.1%. in 2021 and 2.8 percent. in 2022

In turn, Polish exports are expected to increase by 8.8 percent in 2021. in real terms, and by 7.3 percent in 2022. Imports are to increase by 9.4 percent. in 2021 and 7.8 percent. in 2022

Main photo source: eurosport



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