By: The Quinnipiac University Economics Research Team, Jack Hangen
The Polish government has passed a budget for 2022 that shifts priorities as the world shifts to living with covid and other more recent threats. The president and polish lawmakers signed in this new budget with the hopes of a 4.6 percent economic growth rate and an inflation cap at 3.3 percent. The government expects revenue totaling PLN 491.9 billion (approximately 114.4 billion USD). This budget will fully fund social programs and put additional capital into health and defense to deal with the COVID 19 pandemic and the looming Russian threat. Health spending will increase to 5.75 percent of GDP, and defense will rise to 2.2 percent of GDP. The government expects to spend a total of PLN 521.8 billion in spending, leaving the government in a PLN 29.9 billion defect. This new budget is poised to continue economic growth within a post-pandemic era.
This article is based upon: https://www.polskieradio.pl/395/7784/Artykul/2894670,Polish-president-signs-2022-budget-into-law