EC sees Poland's government deficit at 3.4% of GDP in 2013, 3.1% in 2014.

By bne IntelliNews February 25, 2013
Poland's general government deficit is projected to continue falling, albeit at a slow pace due to the deteriorating macroeconomic outlook. In 2012, the deficit is expected to decrease to slightly below 3.5% of GDP thanks to the previously enacted consolidation measures, according to winter forecasts of the European Commission. In 2013, the deficit is projected to fall slightly to 3.4% as further consolidation measures are set to be offset by slow economic growth, the report reads. In 2014, EC expects the gap to fall further to 3.3% of GDP, thanks to a rebound in economic activity. In the autumn, EC projected Poland's general government deficit at 3.4% of GDP in 2012, 3.1% of GDP in 2013 and 3.0% of GDP in 2014. Meanwhile, European Commissioner for Economic and Monetary Affairs Olli Rehn said that Poland's excessive deficit procedure (initiated in 2009) may be lifted in the spring, but stressed that among six candidates for lifting the procedure, Poland and Lithuania are not clear-cut cases yet. This would mean that EC could accept Poland's deficit at above the EU limit of 3.0% of GDP. Recently, the Polish government saw the deficit at 3.4-3.5% of GDP in 2012 and hopes to cut it slightly this year.

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