The budget act determines how much money will be received Bank The National Economy, which manages budget funds in Poland. “Republic” reported that according to the government's plans, the funds will receive nearly PLN 180.5 billion.
Bank Gospodarstwa Krajowego will receive almost PLN 181 billion from the government
BGK funds are to receive approximately PLN 180.5 billion from the budget, and their expenditures will exceed PLN 181.6 billion. Eleven funds are to be supported by subsidies from the state budget worth over PLN 20.6 billion. For four funds government is to issue debt securities worth over PLN 103 billion. PLN 60.6 billion has been earmarked for the Armed Forces Support Fund, around PLN 26 billion for the Covid-19 Countermeasures Fund, and PLN 8.24 billion for the Aid Fund. The National Road Fund will receive almost PLN 9 billion.
It is worth recalling that BGK until 2015, i.e. until the power in Poland was taken over by PISmanaged seven funds. During the eight-year term of PiS, an additional fifteen funds were established. “In 2015, these expenses amounted to PLN 15.4 billion in total, and in 2023 to PLN 131.7 billion. This means that the level of fund expenses in BGK in 2023 was more than seven times higher than in 2015 (an increase of over PLN 100 billion, which is approx. 3 percentage points of GDP)” – it was reported in justification for the draft budget act for 2025.
Bonds for BGK funds. How will this affect the state budget? “We have a favorable time to implement financial tightening”
Sławomir Dudek, an economist at the Warsaw School of Economics and the president of the Institute of Public Finance, stated in an interview with “Rzeczpospolita” that there is no public debt extinguishment in Poland, and our debt is constantly growing. – We are dealing with a violation of Article 219 of the Constitution, which states that state finances are managed in the budget act – Dudek said. Marcin Mrowiec, the chief economist at Grant Thornton, noted that no party proposed rationalizing expenditures in the autumn campaign. – We have a favorable time to implement financial tightening, and we are not doing it – he assessed. At the same time, he praised the government for the fact that part of the debt will be repaid with government bonds, which are issued more cheaply.
“The Legal Gazette“quoted by the portal bankier.pl reported that 62 percent of respondents in the United Surveys study commissioned by DGP and RMF FM stated that it is necessary to start thinking about limiting the budget deficit.