According to the RMF FM reporters, the Budget Act adopted in February will need to be revised due to the effects of the coronavirus epidemic. This means that the budget deficit will most likely occur.
MKiDN is working on a new plan to support cultural institutions and artists who have suffered losses due to coronavirus We will all feel the economic impact of the pandemic. It has already affects the artists particularly hard
In the Ministries of Finance, Development and the Prime Minister’s Office, preparations are already underway to introduce necessary changes resulting from the fact that Poland is affected by the coronavirus.
It is already known that the cuts will mainly affect investments, including road ones, because due to the fact that a large part of the Polish economy will be stopped, tax revenues shall be significantly lower than assumed.
The government is also expecting a global crisis, as Prime Minister Mateusz Morawiecki spoke quite openly about. In his opinion, the Eurozone will be affected by the recession, which means growth at the level of 0% or lower.
At the same time, the Prime Minister stressed that there is no danger for the payment of social benefits, including 500+.
In connection with the situation on the market, new expenditures will arise which should also be included in the budget, namely state aid for small companies. The head of government has no illusions - some of them will go bankrupt and financial support from the state will be needed to enable at least some of them to survive the crisis.
Tłum. K.J.
Publikacja dostępna na stronie: https://wpolityce.pl/facts-from-poland/491660-the-coronavirus-strikes-the-budget
