March 26, 2020 / 9:38 AM / 6 days ago

Poland's budget to earmark 75 bln zlotys for coronavirus fight

WARSAW, March 26 (Reuters) - The Polish state budget will spend almost 75 billion zlotys ($17.94 billion) to fight the coronavirus pandemic’s economic consequences, up from 66 billion zlotys planned earlier, state fund PFR Chief Executive Officer Pawel Borys said on Thursday.

He also said that he saw a low chance of the public debt rising above 50% of gross domestic product and borrowing needs above 5% of GDP.

Earlier the government said the whole anti-coronavirus package, including measures such as changes in the level of required reserves held by banks in the central bank, would amount to 212 billion zlotys.

$1 = 4.1812 zlotys Reporting by Marcin Goclowski and Pawel Florkiewicz; editing by Jason Neely

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