Stronger than expected economic growth that has fuelled both revenue and spending has prompted the Polish government to amend this year’s budget.
The Fitch ratings agency has raised its projection for Poland's 2021 GDP growth to 5.7 percent and kept its 2022 estimate at 4.5 percent, the agency said in a report published on Thursday.
Poland's GDP rose by a record 11.1 percent year on year in Q2 2021 from a 0.9-pct drop y/y in Q1, the Central Statistical Office (GUS) reported on Tuesday.
Poland forecasts its budget deficit at PLN 30 billion (EUR 6.5 billion) in its 2022 budget bill, the finance minister told a Tuesday press conference.
Poland's 2021 budget deficit is estimated at around PLN 13 billion (EUR 2.8 bln) provided all planned outlays are realised, a Polish deputy finance minister said on Tuesday.
The value of the Polish hotel, restaurant and catering market (HoReCa), which plummeted by 31 percent last year due to the coronavirus pandemic, will rebound by some 14 percent this year and reach PLN 25.9 billion (EUR 5.69 billion), a report has shown.
The International Monetary Fund (IMF) has raised Poland's economic growth forecast to 4.6 percent from 3.5 percent in 2021 and to 5.2 percent from 4.5 percent in 2022.
The state budget enjoyed a surplus of PLN 25 billion (EUR 5.44 billion) after June, the Polish prime minister has said.
Poland is one of the EU leaders in terms of industrial production growth, a deputy development minister has said commenting on the latest Eurostat data.
The share of imports from China and other Far East countries to Poland has been growing, the National Bank of Poland (NBP) has reported.