The Polish general government deficit, after increasing to 4.7 percent this year, will fall below the 3 percent threshold recommended by the EU by reaching 2.6 percent in 2022, the International Monetary Fund (IMF) has reported.
Last year's increase in the general government deficit was primarily generated by the launch of various aid packages to counter the negative impact of the Covid-19 pandemic on the economy.
Poland's 2020 general government deficit hit 6.9 percent of GDP against 0.7 percent in 2019, , stats office GUS said in a statement of a preliminary estimate.
Fitch confirmed on Friday evening the long-term rating of Poland in foreign currency at "A-" with a stable outlook, the agency said.
According to Finance Ministry estimates, last year's budget deficit came to about PLN 85 billion (EUR 18.9 billion), Finance Minister Tadeusz Koscinski told PAP on Wednesday.
The Polish budget deficit, which the government raised to the planned PLN 109.3 bln (EUR 24.3 bln) in the course of the year due to the coronavirus epidemic, reached only PLN 84 bln (EUR 18.7 bln), Mateusz Morawiecki, the prime minister, announced on Wednesday.
The Polish president has signed into law the 2021 budget bill envisaging a PLN 82.3-billion (EUR 18.3 billion) deficit.
Poland is among the countries with the lowest deficit in the EU, the chief economist of the Ministry of Finance has said commenting the latest data of the EU's statistical office Eurostat.
According to estimates, Poland's public deficit in 2020 did not reach above 10 percent of GDP, the Polish finance minister said on Thursday.
The 2020 budget deficit will likely be close to PLN 90 billion (EUR 19.86 billion), Deputy Finance Minister Sebastian Skuza said in the upper house of the Polish parliament on Monday.