“Throughout 2025, a faster GDP growth is expected than in 2024 with a strong increase in consumption. This is a pro -inflationary factor” – admitted the NBP president in the conference, discussing the economic situation in Poland.
He also talked about the labor market. “We enjoy slight inhibition of wage growth. Of course from the point of view of inflation” – he pointed out. He added that the increases are still at the level of about 8 percent, and – as he said – work efficiency is not growing.
“Each social group has a different wage dynamics and it feels differently” – he admitted. He emphasized that ANylitics expect further slowing down of salaryalthough he noticed that various social groups have their claims regarding increases. He pointed out, among others for teachers.
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With such knowledge and forecasts, the MPC sees risk for inflation in the following quarters. Does this mean that you will have to wait longer for cutting your feet? “Further decisions will depend on the information coming in. We do not announce the path of percentage rate changes in advance” – noted the president of the NBP.
Adam Glapiński admitted that he is not an optimistic mood in Hurra. He revealed that this is also the case in the whole council, which asked that it clearly sounded in public.
NBP President of the Tusk's Government Fiscal Policy
Government fiscal policy, economic situation and the situation on the labor market – these factors were mentioned by President Glapiński as the main in the context of shaping inflation.
“I will start with fiscal policy, we devoted the most time to this [na posiedzeniu RPP]. The fiscal policy remains very loose to say in a colloquial language, wasteful. It strongly pro -inflationary. Expenses are large, the revenues are small, the deficit is huge, the debt increases very quickly, “he commented.
“Last year, the public finance deficit increased to as much as 6.6 percent of GDP. This is almost the deepest deficit among all European Union countries only Romania ahead of us,” said Adam Glapiński.
We wrote more about it here.
