Poland's new budget sets sights on growth FinMin says

2021-06-08 21:11 update: 2021-06-10, 11:03
Fot. PAP/Mateusz Marek
Fot. PAP/Mateusz Marek
Next year’s budget will be used to foster rapid economic growth and a stable increase in GDP, Finance Minister Tadeusz Koscinski said on Tuesday in a comment on the latest budget guidelines accepted by the government.

Under the guidelines, the government expects GDP growth in 2022 to accelerate to 4.3 percent from 3.8 percent in 2021. Inflation will fall to 2.8 percent next year, while private consumption will rise by 4.4 percent and unemployment will drop to 5.8 percent.

"We are prioritising the rapid growth of the Polish economy and a gradual increase in GDP," Koscinski was quoted as saying in a statement published on the Finance Ministry's website.

In the near future, it will be important to "further improve investment while maintaining the good shape of public finance," Koscinski also said.

In its statement, the ministry explained that Poland's budget revenue in 2022 will depend on an expected economic upturn and on the condition of the national economy. However, domestic demand is expected to be the main driver of GDP growth next year. (PAP)