Head of Tusk’s cabinet sounds the alarm over Poland’s growing debt

Rising public debt has led one major ratings agency to lower its outlook on Poland

This photo shows 1 State Street Plaza, home of Fitch Ratings, Sunday, Oct. 9, 2011, New York. (AP Photo/Henny Ray Abrams)
By Remix News Staff
2 Min Read

On Telewizja Republika, the head of the Presidential Cabinet, Paweł Szefernaker, said that “the government – ​​the prime minister and ministers – are detached from the problems of ordinary Poles,” and warned them against allowing Poland to become the next Greece.   

“They’re showing indicators that have no impact on the lives of Poles. They’re avoiding the historical debt, turning a blind eye to it. Unfortunately, this all leads to the fact that if things continue this way, we’ll end up like Greece,” he said, as reported by Do Rzeczy.

In late August, the Council of Ministers adopted the draft budget for 2026, which projected revenues of approximately PLN 647 billion, expenditures of approximately PLN 919 billion, and a deficit of no more than PLN 272 billion, or 6.5% of GDP. Expenditures include PLN 247.8 billion for healthcare and PLN 200 billion for defense.

In recent days, the Fitch rating agency affirmed Poland’s current rating for long- and short-term liabilities in foreign currencies and in local currency. However, it also lowered its rating outlook to negative.

The agency predicts that a higher fiscal deficit will lead to a faster increase in general government debt, heading towards 68% of GDP by 2027. The agency estimates the deficit will rise to 6.9% in 2025 and then decline slightly to 6.8% of GDP in 2026, above the government’s budget forecast of 6.5%, before reaching 6.3% in 2027.

Moreover, according to the agency’s projections, public debt will rise to 59.3% of GDP this year from 55.3% in 2024  and 49.5% in 2023. The public debt-to-GDP ratio will continue to rise in the coming years unless additional consolidation measures are taken.

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