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2024 Budget Set for Revision as Government Look to Accommodate Campaign Pledges

POLAND
  • Markets received confirmation late yesterday that the opposition leader Tusk is to head to meet EU leaders and finance officials in Brussels in the coming week, helping support expectations that his strong showing in last weekend’s elections will make for smoother access to EU funds going forward.
  • Budka, a senior official in Tusk’s party, described the planned talks as ‘top level’, with access to funding among the new government’s likely top priorities.
  • Speaking to TVN24, Civic Platform’s Leszczyna outlined the new cabinet’s intentions to revise the 2024 budget to accommodate pledges made during the election campaign. Among the new measures, increased wages for teachers and a doubling of the tax-free allowance is forthcoming. The official looked through any concerns from a higher budget deficit this calendar year.
  • Retail sales data covering September will be the focus of the session, with markets expecting Y/Y sales to slow to +2.7% from +3.1% previously. The numbers cross at 10am local time (0900BST).

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