Poland’s budget deficit is likely to come to PLN 65 billion (EUR 13.5 billion) in 2023 under a budget bill approved by the government on September 28.
Piotr Mueller, the government spokesman, said that the bill had been backed by the Cabinet. It will now go to the Sejm, the lower house of the Polish parliament.
According to the adopted draft budget, revenues are expected to reach PLN 604.4 billion (EUR 125.7 billion) and spending is planned not to exceed PLN 669.4 billion (EUR 139.2 billion).
The 2023 budget is based on an expected GDP growth rate of 1.7% against the previously assumed 3.2%, and an average annual CPI forecast hiked to 9.8% from 7.8%.
Under the budget bill, Poland’s public debt will amount to 53.1% of GDP in 2023, down from 56.6% in 2021.
Poland’s general government sector debt is expected at 4.4% of GDP in 2023.
The government said after the initial adoption of the draft that funds were secured in next year’s budget to strengthen defence and start financing projects under the National Recovery Plan. (The First News/Business World Magazine)