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    95 pct of this year's borrowing needs secured by Poland's state budget

    Poland’s state budget has already financed 95 per cent of its borrowing needs for this year, the Ministry of Finance has reported.

    The Polish government received PLN 68.9 billion (EUR 14.63 bln) from the sale of Treasury bonds, PLN 17.6 billion (EUR 3.74 bln) from bond switching auctions in 2022, PLN 9.2 billion (EUR 1.95) from the sale of bonds on international markets, PLN 5.9 billion (EUR 1.25 bln) in loans from international financial institutions, PLN 7.0 billion (EUR 1.49 bln) from the EU’s SURE loan, PLN 24.1 billion (EUR 5.12 bln) from bond switching auctions in 2021 and PLN 78 billion (EUR 16.56 bln) from the higher budget balance at the end of 2021, the ministry reported on Friday.

    Poland’s total market debt reached PLN 772.5 billion (EUR 164.03 bln) as of the end of July 2022, which compares to PLN 756.8 billion (EUR 160,70 bln) at the end of 2021, the ministry also said.

    After the first six months of 2022, Poland’s budget revenues reached PLN 263.6 billion (EUR 55.98 bln) and was PLN 29.7 billion (EUR 6.31 bln), or 12.7 per cent higher compared to the same period of 2021, the Ministry of Finance reported earlier.

    Government spending reached PLN 235.9 billion (EUR 50.11 bln) after June and was PLN 29.9 billion (EUR 6.35 billion), or 14.5 per cent higher compared to the first six months of 2021.

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