In total, Poland has spent PLN 50 billion (EUR 10.67 billion), or about 2 percent of the country's GDP on helping Ukraine, the finance minister has said.
The total aid given by Poland to Ukraine last year amounted to some PLN 30 billion (EUR 6.4 bln), the Polish finance minister has said.
A VAT exemption on some food items will probably be extended until the end of the year, the finance minister has said.
The ministry said: “Russia's unprovoked and unlawful aggression against Ukraine has revealed the immediate need to increase military spending. Poland will increase expenditures for this purpose within the budget from 2.2 percent GDP in 2022 to 3 percent GDP in 2023. We believe that the watershed moment requiring a change in the EU security and defence has come and we need to put defence at the top of our priorities.”
Global ratings agency Fitch has confirmed Poland's long-term rating at the 'A-' level with stable outlook.
Inflation in Poland may accelerate at the beginning of 2023 but will start slowing down in the spring, the finance minister has said.
Polish finance minister has signed a regulation that will keep VAT on basic foodstuffs at a zero rate in the first half of 2023.
The Polish government has no plans at the moment to veto EU projects in order to pressure the European Commission into unlocking Poland’s access to billions of euros in EU pandemic-recovery funding, finance minister has said.
In 2022, Poland's real GDP growth will be 4.6 percent and next year the situation will deteriorate, the finance minister has said, predicting GDP growth in 2023 at 1.7 percent.
Inflation in Poland is likely to continue to increase and will reach 16.4 percent year on year in September, up from 16.1 percent reported in August, the finance minister has said.
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