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Monday, May 27, 2024

Country budget. Marian Noga on expenses for the 13th pension

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It is very sad, from the perspective of an economist, that we, looking at the budget, cannot say what the state of public finances is – said Professor Marian Noga on TVN24. He assessed that so far “there is so much money outside the budget that we can say that our public finances are in bad shape”.

The expert pointed out that the so-called perceptible inflation is much higher than the official readings. – I think it is somewhere between 20-22 percent. This is true. Therefore, when we listen to inflation data, we are surprised that we buy peppers, onions, which have government price jumps of 50-60 percent on an annual basis – he said.

He also spoke about the impact of monetary policy on price growth. – The National Bank of Poland, the Monetary Policy Council are obliged to bring inflation to the target, i.e. 2.5 percent, within two years at the latest. According to NBP’s assessments, such as the March inflation projection, this is impossible. It shows that in 36 months we will be back on track,” he said.

– February press conference of the president – the president says that in December there will be 6 percent inflation, the March conference – the president says that there will be 7 percent. and it will be better. Since when is one percentage point higher inflation better for society? he wondered.

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Loan for thirteen

Marian Noga also spoke about a loan from the Demographic Reserve Fund for payment 13. pension. – First of all, this is not the 13th pension. (…) It is of a kind pension supplementI would prefer to use the term “expensive additive” – ​​he said.

He pointed out that the 13th pension is not planned in the state budget expenses. – This 13th pension will cost us all Poles 13 billion. Since it is not included in budget expenditures, (…) the government has to look for this money. These 5 billion from the FRD, which has completely different goals, there is no question of thirteenth pensions there – he said.

He reminded that additional benefits for pensioners are also financed from the Solidarity Fund. – This money should be allocated to those who are on strike in the Sejm, because it is money for them – he said.

According to Noga, “it is very sad, from the perspective of an economist, that we, looking at the budget, cannot say what the state of public finances is.” – There is so much money outside the budget that we can say that our public finances are in bad shape – he assessed.

Main photo source: Shutterstock



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