The Polish government's 'anti-inflation shield,' which is binding until the end of July, will be extended, the prime minister said on Saturday.
The Ukraine-Russia war may make the Polish government prolong its so-called anti-inflation shields that it introduced to reduce the impact of inflation on society, a deputy minister has said.
The total cost of the so-called anti-inflation shield launched by the Polish government to fight rising prices will carry a cost equal to 1.2 percent of Poland's 2022 GDP, the PKO BP bank has estimated.
The Polish government anti-inflation shields will trim the annual average inflation by close to 2 percentage points this year, a deputy finance minister has said in a response to an MP's question.
The Sejm, the lower house of parliament, on Wednesday rejected amendments made by the upper house to a bill temporarily reducing VAT on food, fertilizers, gas and other items.
Tax cuts included in a government programme designed to reduce the harm caused by rising inflation could be extended beyond the planned six months, the Polish government's spokesperson said on Wednesday.
A second anti-inflation shield, presented by the government on Tuesday, will temporarily lower inflation by up to 3.4 percentage points, according to a central bank deputy governor.
Inflation in Poland will peak at more than 8 percent in the middle of this year after a slight fall in the first quarter of 2022, Adam Glapiński, the governor of National Bank of Poland (NBP), has said.
The Polish prime minister on Tuesday launched a PLN 10 billion (EUR 2.1 billion) financial shield designed to "protect" the country's economy and households from rising inflation.