“The general government deficit in 2022 was 3.4% of GDP. gross domestic product– We read in the Central Bureau of Statistics bulletin issued on Monday.
This is another year in which the government and local authorities spent more money than they had at their disposal, for example from taxes and other income. What’s more, The deficit relative to GDP has almost doubled compared to 2021. Then it was 1.8 percent.
See also: The government promises to look for savings. We look under the budget quilt
Just a few years ago, Prime Minister Mateusz Morawiecki announced that his government would be able to boast of a balanced budget with a surplus. We were closer to that at the level of the general government result in 2019. At the time, the deficit was just 0.7 percent.
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See also: The Prime Minister discovered the secrets of the budget. Here are the official deficit numbers
Ambitious plans were thwarted by the epidemic and now the war in Ukraine. In covid 2020, the overall government deficit is 6.9%. gross domestic product.
The relative debt of Poland is declining
The magnitude of the accumulation of successive annual deficits is evident in another major financial center – indebtedness. In the same press release, the officials said: General government sector debt, which at the end of 2022 was at the level of 49.1 percent. gross domestic product.
This is a better result than it was a year ago. At the time, the debt was at 53.6%. The last summit happened in the pandemic 2020. , when debt is relative to GDP It reached 57.2 percent.
It should be noted the significant jump in statistics between 2019 and 2020. Just before the coronavirus, the debt in Poland was at the level of 45.7 percent. gross domestic product. We still have a long way to go to get there.
In 2022, the deficit in relation to GDP has increased significantly, but at the same time the debt statistics have improved.
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Central Bureau of Statistics
Statistics published on Monday are preliminary and may change. Communications about general government deficits and debt containing data verified by the European Commission (Eurostat) will be published at April 21, 2023.
At the same time, the Central Bureau of Statistics announced that the information on the updated GDP estimate for the period 2021-2022 will be published the day before, i.e. on April 20, 2023.
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