At a time of record budget deficits, this indicator is very important. The government must somehow find the money to fill the budget gap with loans. The budget gap is expected to reach PLN 184 billion. In addition, you need to buy bonds due this year.
By the end of 2024, PLN 43 billion remains available for repayment from wholesale bonds alone.
Total borrowing needs (including debt renewal) were estimated at PLN 449 billion, so 70 percent financing means that so far Bonds worth PLN 314 billion were sold or rolled over to finance this year’s needs.
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Most of them have already been realized in 2023, because statistics from this year’s Treasury bond auctions show that their sale or renewal generated PLN 89 billion, and in addition, PLN 22 billion of securities were sold at retail. In addition, there are bonds worth $8 billion. (25 billion Polish zlotys) and in euros for 6 billion Polish zlotys. In total, about PLN 142 billion.
These high borrowing needs include, among others: As a result of military spending In the face of the war on the eastern border, but also increased the benefit from 500 plus to 800 plus. We will spend PLN 105 billion from the budget on national defense in 2024, including PLN 51 billion for capital expenditures.
There will also be money from the Armed Forces Support Fund, for which BGK is raising extra-budgetary funds. It plans to spend PLN 53.5 billion this year.
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