General government debt hits 49.3 percent of GDP at end-2022 says FinMin

Wojciech Olkuśnik/PAP

Poland's general government debt (EDP) reached PLN 1.512 trillion (EUR 323.40 billion) at the end of 2022, which is 49.3 percent of GDP, the Finance Ministry has announced.

The EDP debt, one of the EU's Maastricht Treaty fiscal criteria, went up by PLN 32.6 billion (EUR 6.97 billion) or 2.2 percent in the fourth quarter against the third quarter, and by PLN 101.7 billion (EUR 21.73 billion) or 7.2 percent compared to the end of 2021, the ministry said in a statement released on Friday.

"The ratio of EDP debt to GDP at the end of Q4 2022 amounted to 49.3 percent and decreased by 1 percentage point compared to the previous quarter and by 4.5 percentage points compared to the end of 2021," the ministry reported.

According to the statement, Poland's public debt (PDP), namely the debt of the public finance sector after consolidation, increased by PLN 28.1 billion (EUR 6.01 billion) or 2.4 percent quarter on quarter to PLN 1.210 trillion (EUR 258.58 billion) at end-Q4.

In yearly terms, PDP debt rose slightly over PLN 61 billion (EUR 13.04 billion) or 5.3 percent, the ministry said.

"The ratio of PDP to GDP at the end of the fourth quarter of 2022 stood at 39.4 percent and decreased against the previous quarter by 0.8 percentage points and by 4.3 percentage points compared to the end of 2021," the statement read.