Average employment nationwide is expected to rise 1.1 percent in 2024, while average wages are seen increasing 9.6 percent, under the key macroeconomic indicators approved by Poland’s conservative Cabinet on Tuesday.
The unemployment rate is expected to stand at 5.3 percent at the end of 2024, while public investment is projected to increase 4.4 percent, according to the finance ministry.
The country's minimum wage, meanwhile, will rise to PLN 4,300 (EUR 960, USD 1,038) at the end of 2024, up from at PLN 3,600 at the end of this year, under a proposal unveiled by the government on Tuesday, state news agency PAP reported.
"We have built solid foundations for strong economic growth and expect that the economy will expand next year,” Prime Minister Mateusz Morawiecki said at a news conference after a Cabinet meeting in Warsaw.
He was speaking alongside Finance Minister Magdalena Rzeczkowska and Family and Social Policy Minister Marlena Maląg.
The macroeconomic indicators endorsed by the government on Tuesday are subject to consultation with its social partners as part of the Council for Social Dialogue, officials said.
The government has until September 30 to come up with the final draft of the country’s budget for next year and submit it to parliament.
Morawiecki's government last week adopted plans to amend Poland’s budget for 2023, in a move aiming to channel more funds for the public sector, agriculture and defence amid Russia's invasion of Ukraine, according to officials.
The revised budget for 2023 expects the economy to grow 0.9 percent, instead of the original 1.7 percent estimate.
Meanwhile, inflation is targeted at 12 percent, up from a previous target of 9.8 percent, the finance ministry said.
(gs)
Source: IAR, PAP