Poland's finance minister said on Tuesday that the country's public finances are in good shape and that it has the resources to create financial cushions should the Omicron coronavirus variant threaten the economy.
Rafał Guz/PAP
European Commission forecasts confirm that the Polish economy coped “relatively well” with the pandemic, the finance minister has said in a commentary sent to PAP.
New European Commission (EC) figures put Poland’s expected GDP growth for this year at 4 percent and 5.4 percent next year. According to the latest forecasts, last year s recession in Poland was one of the shallowest among EU countries, Tadeusz Kościński said. A better result was achieved only by Ireland, Lithuania and Luxemburg. That confirms that the Polish economy coped relatively well with the hard times of the pandemic. The forecasts for Poland for the years 2021-2022, are higher than EC projections from February this year by 0.9 and 0.3 percent respectively, he added. The use of funds from the Recovery and Resilience Facility will also have an influence on the improved dynamic expected by the EC in 2022.
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April 21, 2021 Kościński said that given the background of monthly data on retail sales and production, tax revenues look relatively good. Rafał Guz/PAP
Poland’s budget deficit is estimated at PLN 3.4 billion (EUR 747 million) at the end of March, Finance Minister Tadeusz Kościński has told PAP. The higher-than-planned execution of receipts and lower expenses had an impact on the budget after the first quarter, he said. We estimate that after the first three months of 2021, the deficit will amount to PLN 3.4 billion.
According to Finance Ministry data, in the first three months budget revenues increased by PLN 4.9 billion (EUR 1.1 billion), or 5 percent year on year, and reached PLN 101.1 billion (EUR 22.2 billion) while tax receipts rose by 6.5 percent in annual terms.
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March 03, 2021 We ve done a lot for banks. In the past year we ve injected PLN 312 billion (EUR 68.7 billion) into the economy,” Tadeusz Kościński told Bloomberg. Rafał Guz/PAP
Poland s finance minister has said the national banking sector has received sufficient pandemic-crisis government aid, and can now cope alone. We ve done a lot for banks. In the past year we ve injected PLN 312 billion (EUR 68.7 billion) into the economy,” Tadeusz Kościński told Bloomberg. “I don t think we need to help any further at this stage. Now it s time for banks to help themselves.
Kościński also spoke about continuing controversies surrounding aid for FX loan-takers, many of whom feel financially squeezed by changes to the Swiss franc-zloty exchange rate. According to the minister, recent out-of-court settlement proposals by the Polish Financial Supervision Aut