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Polish cabinet backs 2023 budget with 65 billion zloty deficit, PM says

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Polish cabinet backs 2023 budget with 65 billion zloty deficit, PM says By Reuters

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Economy 12 minutes ago (Aug 30, 2022 12:05)

© Reuters. FILE PHOTO: Poland’s Prime Minister Mateusz Morawiecki attends a round table meeting during a face-to-face EU summit amid the coronavirus disease (COVID-19) lockdown in Brussels, Belgium December 11, 2020. REUTERS/Yves Herman/Pool

WARSAW (Reuters) – The Polish government approved a 2023 budget draft with a deficit of around 65 billion zloty ($13.8 billion), Prime Minister Mateusz Morawiecki said on Tuesday.

The budget envisages defence spending at 98 billion zloty and an additional 30-40 billion zloty to buy military equipment abroad, Morawiecki said.

Average inflation is seen at 9.8% next year versus 13.5% in 2022, with a public sector deficit at 4.2%-4.4% of GDP in 2023 and economic expansion of 1.7%, Morawiecki said.

The main interest rate is expected at 7% in the second half of 2022 and the government assumes rates will start going down from the fourth quarter of 2023, he added.

($1 = 4.7216 zlotys)

Polish cabinet backs 2023 budget with 65 billion zloty deficit, PM says

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