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Poland Extends Mortgage Moratoriums Into 2024

POLAND

The Polish cabinet approved extension of mortgage moratoriums into 2024, Prime Minister Donald Tusk says at press conference in Warsaw, Bloomberg report.

  • Cabinet also approved change of rules to increase availability of aid from special fund for distressed borrowers managed by BGK bank.
  • The Finance Ministry initially proposed to limit aid to borrowers whose monthly loan installments exceed 30% of their income, with cost for banks seen at PLN 2.5bln in 2024 versus a combined PLN 12.8bln over the last 2 years when there was no income criterion.

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