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    Historical no-deficit budget in Poland

    The Sejm adopted today the Budget Act for 2020. It assumes the balance of revenues and expenses
    which are to amount equally to PLN 435.3 billion, leaving no deficit.

    231 MPs voted in favor of the Budget Act, 217 were against and one abstained. Deputy Minister of Finance, Tomasz Robaczyński – answering questions from MPs – emphasized that this year’s budget will ensure long-term stability of public finances. The head of government is also optimistic. “I have great news for everyone. The first budget without a deficit becomes a reality!”, stated Prime Minister Mateusz Morawiecki. According to PAP (Polish Press Agency), Henryk Kowalczyk, the head of the Sejm’s Public Finance Committee, called the budget “historic” as it was the first one with no deficit and the very budget owes its good condition, among others, to Poland’s sinking public debt, resulting in lower servicing costs. Robaczyński said that expenses foreseen in the budget were the highest in history, but he assured that the state has sufficient funds to cover them.

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