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Poland reports budget surplus in January says prime minister

Albert Zawada/PAP

The state budget recorded a PLN 11-billion (EUR 2.3 billion) surplus in January 2023, Mateusz Morawiecki, the Polish prime minister, said on Tuesday.

“The surplus has resulted from the effective economic politics and savings, which are being generated thanks to digitalisation, among other things,” Morawiecki told reporters after a government meeting.

“This surplus makes it possible for us to implement courageous investment policies,” he also said.

Under the 2023 budget law, government revenue is expected to come to PLN 604.5 billion (EUR 128.9 billion) and spending is seen at PLN 672.5 billion (EUR 143.4 billion), producing a deficit of PLN 68 billion (EUR 14.5 billion).

The public finance sector deficit, as calculated according to EU methodology, will reach 4.5 percent of GDP, while the general government debt will amount to 53.5 percent of GDP.

Economic growth is planned to reach 1.7 percent while inflation will come to 9.8 percent. Wages are expected to rise by 7.8 percent.

Healthcare spending will exceed 6 percent of GDP and defence expenditure will reach 3 percent of GDP, but the latter figure does not include a special non-budget fund administered by the state-owned development bank BGK.

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