EC agrees with government that Poland may end excessive deficit in 2012.

By bne IntelliNews May 14, 2012
Poland will probably manage to end its excessive deficit procedure on time, i.e. by the end of 2012 - which is in line with the Polish government's plans, it transpires from the European Commission's spring forecasts. It notes that after rising continuously from 1.9% of GDP in 2007 to 7.8% of GDP in 2010, Poland' s general government deficit started decreasing in 2011, when it fell sharply to 5.1%. In 2012, despite a considerably slower GDP growth, EC expects the deficit to decrease to 3.0% of GDP on the back of the 2011 package of structural consolidation measures which will remain in force in 2012 and is supported by additional measures included in the 2012 budget law. In 2013, the deficit will probably ease further to 2.5% of GDP, the Commission concludes.
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