Polish gov't amends 2020 budget

The Polish government on Thursday endorsed amendments to the country's budget law for this year, raising the deficit to PLN 109.3 bln (EUR 24.9 bln) as spending soared and revenues plummeted due to the coronavirus crisis.

Poland's revenues will be PLN 36.7 bln (EUR 8.35 bln) lower than planned earlier and will reach PLN 398.7 bln (EUR 90.7 bln), the government press service CIR reported.

Poland's spending will be PLN 72.7 bln (EUR 16.6 bln) higher than previously planned and will reach PLN 508 bln (EUR 115.7 bln).

The country's GDP will go down by 4.6 percent in 2020 after a 4.1 percent growth in 2019 and against a 3.7 percent growth expected earlier for 2020.

The average inflation is expected to increase to 3.3 percent this year from 2.3 percent a year before and against a 2.5 percent rise previously assumed for 2020.

The country's unemployment rate will increase to 8 percent at the end of this year from 5.2 percent at the end of 2019 and against 5.1 percent assumed in the original 2020 budget law.

Average employment will go down by 2.4 percent after a 1.5 percent growth in 2019 and against a 0.5 percent growth assumed in the original budget law.

Wages are expected to increase by 3.5 percent in 2020 after a 7.2 percent growth in 2019 and against a 6.0 percent rise assumed earlier for this year.