Credit holidays.  Prime Minister: Certainly not for everyone

Extending credit holidays will be one of the first initiatives Law and Justice Party In the new House of Representatives – Prime Minister Mateusz Morawiecki announced in Polsat News on Wednesday. As he said, work is underway at the Polish Financial Supervision Authority to determine the minimum threshold that qualifies as a cessation of payment of obligations.

Although interest rates are low, they are still at a level where some households may have problems repaying their loan obligations, Mateusz Morawiecki told Polsat News.

He explained that next yearExpected inflation was 6.5 percent, and loans were taken out when it was 1, 2, or 3 percent. “Due to this difference, we are proposing to extend the credit holidays,” the Prime Minister said.

Holidays are not for everyone

He pointed out that credit exemptions will not apply to consumers with higher incomes. “Certainly not for everyone,” the Prime Minister said when asked about the limits that allow stopping payment of obligations. The Prime Minister pointed out that “so that the wealthy who are able to repay their loans can.”

He added that the threshold is now being developed by the Na CommitteeThe Financial Supervision Authority, which diagnoses income levels at which there is a payment problem.

Leave after the elections

Work on extending the credit holidays is scheduled to continue after that elections.

– This is our post-victory declaration and we will implement it as one of the first initiatives when the new Chamber of Deputies is formed – Prime Minister Morawiecki emphasized. He added that this initiative applies to the year 2024, because the current regulations are in effect until the end of 2023.

We plan for inflation to fall below 4%. The Prime Minister said that after that in 2025 there will be no need to extend the credit holidays.

What’s next for the Polish economy?

The Prime Minister was also asked about Central Statistics Office data, which shows that industrial production in August fell by 2%. Counting year after year.

“We are now going through difficult months, but if we look at how each country coped in the most representative period, taking into account, for example, the beginning, that is, the last quarter before Covid – the fourth quarter of 2019 and the first quarter of this year for example, then “We are at the forefront of Europe.”

“I’ve read all the analyzes I get. There are a few lean months now, but they are coming to an end. September, October and November should be better, and next year – we have one of the highest rates of economic growth. Probably one of the highest rates of economic growth among countries.” The major European Union, where the growth rate is expected to reach 2.7% European Commission” – He said.

Morawiecki was also asked about the Workers’ Party’s calculations that PiS campaign ads would cost PLN 115 billion.

“And what was calculated there?” – asked the Prime Minister. “I remember very precisely what we presented during our previous two conferences. They were more than 800, and these were of course our various programmes, such as +Local Shelf+, and these were more than 65 properties, and these were free highways…” – Number. “Approximately, from memory, this is not entirely true. Roughly from memory, it is worth about PLN 28 billion,” he said.

He referred to the phrase, “If you calculate the fourteenth pension, it will be more,” pointing out that “the fourteenth pension was not part of our promises.” He explained, “The fourteenth pension was a program for retirees that we introduced. We provided it permanently (…) and it is part of our social policy.”

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