The country’s budget deficit is expected to be no more than PLN 30 billion (around EUR 6.5 billion, USD 7.7 billion) next year, and the target for the general government deficit is 2.8 percent of GDP, state news agency PAP reported.
Government revenue is expected to total PLN 475.6 billion in 2022, with spending set at PLN 505.6 billion.
“The draft 2022 budget approved today is a response to the needs of the Polish economy, which is getting back on the path of growth after the pandemic crisis,” Finance Minister Tadeusz Kościński told reporters on Tuesday.
Tadeusz Kościński. Photo: Polish Ministry of Finance
"We assume that the gross domestic product will grow 4.9 percent this year in real terms, followed by 4.6 percent growth in 2022," he added.
The proposed budget ensures full financing for the government’s key social assistance projects, including its flagship "500-plus" child benefit programme and subsidised school supplies for children nationwide, officials have said.
Meanwhile, health spending is expected to increase to 5.75 percent of GDP, and defence spending is expected to stand at 2.2 percent of GDP next year.
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Source: PAP, IAR