– We have two months in a row, where the MPC (…) raised interest rates, so it will be interesting if there will be any pity for us for Christmas and will wait one more month – assessed the head of the Ministry of Finance. – My grandmother said for two – added.
Asked whether the increase in interest rates would hit inflation and make it lower in the coming months, he said “it’s not like that”. As he explained, inflation is influenced by external, foreign factors, such as the price of energy, oil, as well as secondary, domestic factors. – In fact, the NBP interest rate hike has an impact on this secondary, domestic level of inflation, where several months are needed to see an effect. He explained.
The head of the Ministry of Finance was also asked about the higher excise duty on alcohol and cigarettes, which is to enter into force on January 1, 2022.
– The excise duty will be increased from January 1, 2022, i.e. in less than a month. We expect a 40 percent bottle of vodka. it will be about PLN 1.50 more expensive He explained.
He added that the increase on a bottle of wine will amount to approx. 16 groszy, on a bottle or can of beer – approx. 6 groszy, a pack of cigarettes will increase by approx. 30 groszy, and innovative products – approx. 1 PLN.
He said that this year, from January to the end of October, the budget revenues from excise duty on alcohol and cigarettes accounted for approx. 7 percent.
The minister also referred to the government’s anti-inflationary shield. He reminded that, according to estimates, its cost will amount to approx. PLN 10 billion in the first half of 2022.
As he said, the reduction of the excise tax on fuels is to amount to approx. PLN 1 billion 300 million, the reduction of VAT on gas from 23 percent. at 8 percent – PLN 700 million, reduction of excise tax on electricity – PLN 1 billion 150 million, and the allowance for the poorest is about PLN 6 billion.