Poland's budget spending secured for 6-7 weeks - PM

The prime minister said that the Polish government began its liquidity build-up "immediately after the first dangerous signals reached Poland." Wojciech Olkuśnik/PAP

Poland has already covered 77 percent of its borrowing needs in 2020 and this means that it has some PLN 50 billion (EUR 11 billion) in extra liquidity, PM Mateusz Morawiecki told the Senate on Monday.

He said that this sum is enough to cover some six to seven weeks spending. "This is the cost of pensions, sick leave, remuneration for teachers, for health care," said Morawiecki.

The prime minister said that the Polish government began its liquidity build-up "immediately after the first dangerous signals reached Poland (...), it was the end of January, the beginning of February," the PM told senators.

Morawiecki, addressing the Senate at the start of the chamber debate on a package of special measures aimed at protecting Poland's economy in the time of pandemic said that fiscal-monetary solutions in the government-proposed "anti-crisis shield" focus, in their majority, on B2B and employer-employee relations - spheres most affected by the coronavirus disease.