Page 11 - Poland Outlook 2020

for most skilled, should cause upward revision of net borrowing needs, but from an ultra-low PLN 7bn (€1.6bn) to low, in the range of PLN15bn.
2020 gross borrowing needs should stand at PLN 120bn vs PLN 152 in 2019. The following year and more likely 2022 should bring the return to higher net borrowing needs, but still, the fiscal side should stay under control and the sector deficit below the 3% EU threshold.
Overall, Polish debt is expected at 43.8% of GDP at the end of 2020, a drop of 0.6pp versus 2019. Debt, as calculated in line with EU methodology - so general government debt - is expected to fall 0.5pp to 46.5% of GDP at the end of 2020.
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