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Lower House Approves 2023 Budget Bill

POLAND

The lower house of Polish parliament approved the 2023 budget bill this morning, with 232 votes in favour versus 219 against.

  • The spending plan assumes a revenue of PLN604.7bn and PLN672.7bn in expenditures, which means the deficit will be around PLN68bn.
  • GDP growth is projected to be +1.7% Y/Y next fiscal year, with CPI inflation estimated at +9.8% Y/Y.
  • The budget bill will now be submitted to the opposition-controlled Senate, which will give its opinion on January 12.
  • The lower house can override any amendments proposed by the Senate, which means that the bill is unlikely to undergo any major tweaks.
  • It is expected that the budget bill will be submitted to President Andrzej Duda for his signature no later than on January 30.
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