17:07 25 November 2024
MPC Wnorowski: Recent macro data is mixed, with mostly worrying signs
Henryk Wnorowski, a member of the Monetary Policy Council (RPP), stated that the latest macroeconomic data from Poland is mixed, but with more concerning signals. He highlighted that the 2025 budget presents significant long-term challenges, with widespread expectations for fiscal consolidation.
A major concern is the lower-than-expected revenue from the CIT tax, which is projected to be 19-20% lower than planned for 2024. Wnorowski emphasized the need for urgent action to address public finance consolidation, especially as Poland nears the constitutional debt limit of 60% of GDP. If this threshold is breached, the budget would be governed by constitutional procedures, requiring a balanced budget.
