Poland’s 2021 budget shortfall to be lower than anticipated, says ministry

Poland’s 2021 deficit will be less than 4% of GDP, according to the finance ministry, down from 5.3 percent previously estimated.

Poland’s economy fared better than many of its regional counterparts during the COVID-19 pandemic and has recovered strongly. According to the finance ministry, the deficit will continue to shrink in the coming years. “We have a stable situation in the public finances. State budget revenues are growing,” Deputy Finance Minister Piotr Patkowski said in a statement.

The finance ministry also stated that in 2021, it will spend 26 billion zlotys, or 1% of GDP, on debt servicing, which is 3.3 billion zlotys less than the previous year.