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Budget Signed & Sent To Constitutional Tribunal, Gov't Prepares For Clash Over Top Court

POLAND
  • President Andrzej Duda signed the 2024 budget bill into law but sent it to the Constitutional Tribunal for review. Prime Minister Donald Tusk played down the importance of Duda's decision, but it sets the stage for another flare-up in the ongoing dispute between the ruling coalition and the main opposition party. Duda announced that he will "take similar actions (...) every time when MPs are prevented from pursuing their mandates" as he maintains that two pardoned Law and Justice (PiS) officials should not have been deprived of their parliamentary seats. The President's office has just said that he will deliver a statement at 10:30GMT/11:30CET.
  • Meanwhile, Onet reports that the ruling coalition will next week table legislation in parliament to overhaul the Constitutional Tribunal due to controversies over the selection of some of the judges and the alleged politicisation of the top court. Draft resolutions seen by Onet would unseat five out of fifteen judges, override certain verdicts, and create incentives for the judges appointed by the previous parliamentary majority to retire or face disciplinary action. The President's address later this morning may touch upon these rumours.
  • Poland will auction PLN5bn-9bn of bonds on February 21 and PLN5bn-9bn on February 27, with an additional switch auction scheduled for February 14. The government has already covered about 36% of its 2024 borrowing needs.
  • S&P Global Manufacturing PMI will cross the wires at the top of the hour. The index may have improved to 48.0 in January from 47.4 prior.
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