Government reported to be cutting ZUS contribution by zl.100 million

Unofficial sources quoted by Prawo i Gospodarka say that the government is planning to cut its contribution to Social Insurance Company (ZUS) by zl.100 million this year. According to Krzysztof Rybinski, chief economist with ING Bank, the news is particularly bad for ZUS, since it needs help from the budget after failing to get the expected zl.2 billion from the sale of its liabilities. ZUS was supposed to receive a zl.14 billion contribution from the government this year, which would have allowed it to pay off the zl.3.4 billion it owes to retirement funds. The transfer of money to retirement funds is currently at its lowest level since the beginning of the year. Rybinski warns that as a result, ZUS's debts next year could increase from zl.5 billion to zl.6 billion. (Prawo i Gospodarka, p. 9) M.M.