Poland's state budget has already financed 95 percent of its borrowing needs for this year, the Ministry of Finance has reported.
Poland's debt increased by PLN 11.5 bln (EUR 2.41 bln), or 1.0 percent, in June from the month before and reached PLN 1,179 bln (EUR 247 bln), the Finance Ministry reported on Wednesday.
The debts of Poles aged 18-24 fell by the most of any age group during the pandemic, according to the BIG InfoMonitor debt registry.
The Polish finance minister has welcomed the high rating conferred on Poland by the S&P ratings agency and the firm’s “attention to the safe level of our public and private debt.”
Poland's finance minister has said he is convinced the country's additional debt burden caused by the coronavirus pandemic can be reduced, but it cannot be done soon as that might stifle a resurgent economy.
Polish Treasury debt at the end of February rose by PLN 32.6 billion (EUR 7.08 billion), or 3.0 percent month on month, to about PLN 1.122 trillion (EUR 243 billion), the Finance Ministry said.
In Europe, the Polish economy is one of the most resilient to crisis, the governor of Poland's central bank has said.
At the end of January 2021, the Polish State Treasury debt reached PLN 1.098 trillion (EUR 242.74 billion), up by PLN 0.9 billion (EUR 199 million) or 0.1 percent from December 2020, the Finance Ministry has reported.
The level of debt held by the culture and entertainment sector soared to PLN 35 million (EUR 7.8 million) last year as it struggled to cope with the effects of the pandemic lockdown.
The debt of hotels, restaurants and catering firms increased by one third in 2020 compared to the previous year and now stands at around PLN 280 million (EUR 61.8 million).
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