How do the authorities in Poland manage income and expenditure? deficit doubled

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.