Last Thursday, Polish Prime Minister Mateusz Morawiecki announced the establishment of an "anti-inflation shield" to
"lessen the effects of inflation"
Annual inflation stood at 6.8% in October, according to the National Statistics Office (GUS), a figure not seen for twenty years.
Added to this is a zloty - the Polish currency - historically weak against the euro.
Between January and March, the VAT on domestic electricity will drop from 23% to 5%, while the excise will be reduced to zero.
VAT on gas will drop from 23% to 8% over the same period.
For fuels, excise duty will be reduced to 0% for five months from December 20 - the minimum level authorized in the EU - and VAT will be abolished from January 1 to May 31, 2022. To this is added a annual financial assistance for households, depending on income, ranging from 400 to 1,150 zlotys (approximately 86 to 246 euros).
Total cost of the operation?
10 billion zlotys (2.14 billion euros).
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