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POLAND: Poland Plans to Curb Fiscal Shortfall to EU’s 3% Cap in 2028: BBG

POLAND
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Bloomberg run a piece in which they write that Poland plans to reduce its budget shortfall to the EU’s limit of 3% of GDP in 2028 as it seeks to exit the bloc’s excessive deficit procedure without broader spending cuts.

  • "The government, which faces presidential elections next year, intends to rely on robust economic growth to help reduce the fiscal deficit"
  • "The fiscal strategy published by the Finance Ministry on Tuesday also envisages a boost of revenues from higher excise levies on tobacco products as well as changes in corporate income taxes."
  • Bloomberg add that the document doesn’t take into account the government’s costly pre-election promises from last year, that it has postponed, including a higher tax-free allowance and mortgage subsidies.


 

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Bloomberg run a piece in which they write that Poland plans to reduce its budget shortfall to the EU’s limit of 3% of GDP in 2028 as it seeks to exit the bloc’s excessive deficit procedure without broader spending cuts.

  • "The government, which faces presidential elections next year, intends to rely on robust economic growth to help reduce the fiscal deficit"
  • "The fiscal strategy published by the Finance Ministry on Tuesday also envisages a boost of revenues from higher excise levies on tobacco products as well as changes in corporate income taxes."
  • Bloomberg add that the document doesn’t take into account the government’s costly pre-election promises from last year, that it has postponed, including a higher tax-free allowance and mortgage subsidies.