Polish finance minister says does not plan to amend the budget for 2024-media

Credit: REUTERS/ALEKSANDRA SZMIGIEL

WARSAW, Feb 20 (Reuters) - The Polish Minister of Finance Andrzej Domanski said that the government is not working on amending the state budget for 2024 and maintains the economic growth forecast at 3%.

"I do not plan to amend the budget act," said Domanski in an interview published on Tuesday by Business Insider.

"I stick to the forecast that the Polish economy will grow by 3% this year, or maybe even more. Here, however, we have to see what will happen to private consumption. We are certainly glad that investments have picked up."

In 2024, the budget deficit is expected to amount to 184 billion zlotys ($45.84 billion).

Domanski said that currently Poland has already financed about 40% of its borrowing needs for 2024, and at the end of the first quarter it will probably be half.

"The interest in Polish bonds is still very high. We also see excess liquidity in the banking sector, but we want to diversify the investor base," he said.

"Cross asset funds are appearing on our market, and there is a lot of money there. In the coming weeks I will be in London, and in April in Washington and Frankfurt to talk to investors."

Domanski also said that Poland plans further debt issues on the foreign markets. So far, it has issued bonds worth 4 billion euros.

"The market situation will be key. We should also remember that we have significant needs within the state budget in foreign currencies. For this reason alone, financing in euro or dollar makes great sense," said the Minister of Finance.

($1 = 4.0137 zlotys)

(Reporting by Pawel Florkiewicz; Editing by Michael Perry)

((pawel.florkiewicz@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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