Tag: Public finance
Announced by the European Central Bank, scheduled for September, targeted long term refinancing operations (TLTRO) will become one of important transmission mechanisms of monetary policy. The ECB hopes that they will restore the bank lending channel to the economy - said Yves Mersch, member of the Executive Board of the ECB.
The reform of the pension system will only decrease the cost of debt servicing and the cost of refunding contributions – a total of PLN 9 billion. The government will not spend any more, as it pursues fiscal consolidation within the excessive deficit procedure - says Dariusz Rosati, Chairman of the Public Finance Committee of the Sejm.
Celowa Spółka Inwestycyjna (CSI), a special purpose company, is a provisional name of the company which is being created for the implementation of the government’s Polish Investments programme. Together with Bank Gospodarstwa Krajowego (BGK), it shall provide financial support when either the first or the last zloty is needed in the process of implementing major infrastructure projects - says Paweł Tamborski, Deputy Minister of the Treasury in an interview for Financial Observer.