October 6, 2022

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Experts: The government made promises, now it has to borrow.  Up to ... 390 billion PLN

Experts: The government made promises, now it has to borrow. Up to … 390 billion PLN

According to experts, the government will have exceptionally large borrowing needs next year. According to the specialists of Rzeczpospolita, it will be necessary to obtain at least 270 billion PLN. However, in the end this amount may be much higher and may even reach 390 billion PLN.

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Adam Bilan as a guest in the morning interview on Gazeta.pl (13.09)

The government has made promises, and now they have to get the money from somewhere

It’s not about standard budget expenses, it’s about anything that is an extra cost. The first amount is indicated by Marcin Luziński, Santander economist Bank Poland. It is about the possibility of extending the anti-inflation shield. As a result, the income loss may reach 33 billion PLN.

Another account on the government’s list is “gifts” for seniors. Apart from the fourteenth, there is also the possibility of the fifteenth. This means the need to find another 23 billion PLN. There are also voices in the media regarding a possible appraisal 500 plus. Experts say that if it were enough, it would cost the government another 15 billion PLN.

This is called momentum. The government spent more than 120 billion PLN in one month [WYKRES DNIA]

The energy crisis will also hurt the budget

The subsidies associated with the energy market crisis could turn out to be a huge expense. Carbon supplementation and other similar activities, according to Credit Agricole Bank Polska analysts, could consume another 47 billion PLN. This amount does not include companies or public institutions.

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“Altogether, the Bank calculates that the additional measures mentioned above may increase the total borrowing needs by about 120 billion PLN, to about 390 billion PLN. In terms of GDP, they will reach 11.7% and will be the largest since 2010.” – We read in analysis.

The official central budget deficit … 65 billion PLN. Expert: It’s a “Pathobudget”

Against the background of these expenditures it is worth mentioning the draft budget. On the last day of August, the government presented a bill according to which in 2023 state revenue will amount to PLN 604 billion and will be less than expenditure by PLN 65 billion. This means that this is what the central budget deficit is supposed to be.

Dr. Sławomir Dudek, chief economist at FOR, asserts in the prepared opinion for next.gazeta.pl that the planned deficit has nothing to do with economic reality. The state debt is much greater.

– 65 billion PLN is a white scam day. It is the “sick budget”. It’s a mockery of common sense Parliament and citizens. The government is supposed to go after the value-added tax mafia, and it has a parallel budget for “cardboard checks” – the economist assesses. – Parallel budget, Morawiecki’s spending paradise is growing at a cosmic pace. It is assumed that the deficit will be 65 billion PLN, and the debt, along with the Prime Minister’s expenditure commission, will increase by 190 billion PLN. where is the rest? – He adds.

2018 Local Government Elections - Prime Minister Mateusz Morawiecki and PiS President Jaroslaw KaczynskiEconomist: Parliament’s out-of-control debt is close to 350 billion PLN