The legislation, passed on Thursday, now heads to President Andrzej Duda for signature, Polish state news agency PAP reported.
Grace period
Under the bill, those with mortgage loans in the Polish currency, taken to meet their own housing needs, can apply for the postponement of four mortgage instalments in 2022 and a further four in 2023, at no additional cost.
More financial help for distressed borrowers
Moreover, banks will inject an additional PLN 1.4 billion (EUR 293 million) this year into the Loan Customers’ Support Fund that helps borrowers in distress, according to officials.
More favourable rules for calculating cost of mortgages
In addition, the cost of mortgage loans will no longer be calculated on the basis of the Warsaw Interbank Offer Rate (WIBOR).
A new indicator will be introduced by a government decree.
Anti-inflation measures extended until end of October
Also under the bill, the government’s measures to combat inflation will be prolonged for a further three months, until the end of October.
These measures include reduced value-added tax (VAT) on fuels, from 23 to 8 percent; 5 percent VAT on energy and heat; 0 percent VAT on gas; 0 percent VAT on food, fertilisers and selected means of agricultural production; lower excise duty on energy; exemption of energy for households from excise duty; and lower excise duty on selected engine fuels, among other provisions, the PAP news agency reported.
Inflation in Poland stood at 15.6 percent in year-on-year terms in June, the country’s Central Statistical Office (GUS) said in a flash estimate last week.
The Polish central bank’s Monetary Policy Council on Thursday raised key interest rates for the 10th consecutive time in an effort to tame surging consumer prices.
(pm/gs)
Source: PAP, money.pl