By The Associated Press August 28, 2024 at 6:39am
Poland’s budget proposal for 2025 includes record defense spending of $48.7 billion, officials said Wednesday.
Prime Minister Donald Tusk presented the main points of next year’s budget for the nation. Tusk described the budget proposal as “generous” and supporting further economic growth.
“It is a great effort, but there is no turning back from it,” Tusk said at a news conference, referring to the defense sector funding.
Finance Minister Andrzej Domanski said that the defense spending proposal would constitute 4.7 percent of gross domestic product, compared to 4.2 percent this year, which already makes Poland a leader in NATO and in the European Union.
The current proposal would break the previous defense spending record of $41.5 billion in the 2024 budget.
Tusk said it will be a budget of “construction and force” and will contribute to reinforcing Poland’s security, which also includes the sensitive energy security.
Poland is making large purchases of military equipment, including fighters jets, tanks and missile defense systems from the U.S. and South Korea.
About $1.2 billion has been earmarked toward the construction of Poland’s first nuclear plant, which is expected to be operational in northern Poland in 2035. Tusk said work to prepare the necessary infrastructure was about to begin. Poland has been taking strides in recent years to cut its dependence on energy sources coming from Russia, like gas and oil.
Poland’s economic growth is expected to be 3.9 percent next year, compared to 3.1 percent in 2024. An inflation rate of 5 percent is expected, up from some 4 percent this year. The deficit will reach $75.3 billion, Domanski said.
The budget plan will be debated with the trade unions and needs approval from Poland’s lawmakers and from President Andrzej Duda.
The Western Journal has reviewed this Associated Press story and may have altered it prior to publication to ensure that it meets our editorial standards.
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter
