Inflation is a most serious problem for economy
20:37
High inflation is observed throughout Europe, including the euro area. The search for an effective solution that could lead to its reduction was discussed during the panel "Monetary, fiscal and macroprudential policy in times of high inflation and uncertain growth", which was held on the first day of the 12th European Financial Congress in Sopot.
"Its causes should be seen in external factors, such as primarily the actions of Russia in Ukraine, which affect the prices of energy resources and food," said Finance Minister Magdalena Rzeczkowska in her speech during the opening ceremony of the European Financial Congress.
As she pointed out, the Finance Ministry is aware that "increasing public spending may delay the descent of inflation to more acceptable levels and therefore we intend to be very cautious about new spending here."
"The plans are to reduce public sector spending as a share of GDP from 44.4 percent this year to 42.2 percent in 2025. Under the plans, the debt of the whole general government will fall and we plan to have it below 50 percent of GDP in 2025," she added.
