The Polish government adopted the projected budget for the fiscal year 2020. The budget has no projected deficit and has guarantees of funds for all needs and new social programs, as well as lowering the basic tax bracket from 18 to 17 percent and increasing tax deductions for generating income, which will affect 24 million taxpayers. The funds for the 13th pension, cost of living adjustment and support for the disabled were also secured.
”We now have a budget with no deficit, a balanced budget which includes the funds necessary to run our great family program for children, which is 500+. This is starting with the first child and we will keep our election promises. This 2020 budget also includes programs for young people, for example, no income tax for taxpayers under 26 years old as well as a decreased tax bracket from 18 to 17 %, which will affect 24 million taxpayers. This is an unprecedented change, and this decrease we took into account in our budget projection. Next, is the 13th pension for all retirees and also for disability recipients, which was adopted today and it is a part of this budget. You can say that in the presence of the turmoil we are now facing recently, like Brexit, slowing down of the Euro zone economy, or the trade war between the US and China which cause some economic perturbations in the world, all those problems create a situation where our stable balanced budget gives us comfort. It gives us a safety buffer for the year 2020. Economic growth is in our plans, our ideas, when we think about our future. It is so far a basis for Poles to be optimistic, and our budget adopted today gives us an assurance to continue that”- says Mateusz Morawiecki, Prime Minister of Poland.