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Saturday, October 23, 2021

The budget of Poland in 2022 – deficit, GDP, expenses. The government has adopted the bill – Tadeusz Kościński explains

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The government has adopted a draft budget act for 2022. The maximum deficit is to amount to PLN 30.9 billion. – This is a deficit that will finance further investments, because public finances are healthy and we can afford to continue investing and for our economy to develop – said Minister of Finance Tadeusz Kościński at a press conference.

During the Tuesday meeting, the Council of Ministers adopted the draft budget act for 2022 along with the draft resolution of the Council of Ministers on the draft budget act for 2022. Now the draft will be submitted to the Sejm.


The budget of Poland 2022 – forecasts

The draft budget act shows that in 2022 the state budget revenues will amount to approximately PLN 481.4 billion. The state budget expenditure next year was planned at PLN 512.4 billion. This means that the state budget deficit is to be no more than PLN 30.9 billion in 2022, and in relation to GDP – 2.8 percent.

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In the macroeconomic assumptions for next year’s budget, the government forecasts that in 2021 the gross domestic product (GDP) will increase in real terms by 4.9%, and next year its growth rate will amount to 4.6%. For comparison, in 2020 there was a decrease in GDP by 2.7%.

– The Polish economy is functioning very well, public finances are in good condition – said Tadeusz Kościński. However, as he stressed, despite the budget surplus at the end of August in the amount of PLN 43 billion, it is not yet the time for fiscal consolidation – emphasized the head of the Ministry of Finance.

It is expected that the registered unemployment rate will amount to 6.0% at the end of 2021 and 5.9% at the end of 2022. On the other hand, the increase in the prices of consumer goods and services on an average annual basis in 2022 is expected to amount to 3.3%.

Sebastian Skuza, deputy finance minister, also took part in the conference after the government meeting.

– As regards the expenditure side, I would like to point out that the budget provides for the continuation of the existing strategic programs and the introduction of new programs. The old, standard program includes the Family 500 plus program, but we also have a new Care Capital program, the cost of which is PLN 3.2 billion, informed Skuza.

Main photo source: Radek Pietruszka / PAP

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