IMF: Poland's general gov't deficit down to 5.6% of GDP in 2011, 3.6% in 2012.

By bne IntelliNews May 13, 2011
Poland's general government deficit will likely fall to 5.6% of GDP in 2011 and to 3.6% in 2012 from last year's 7.9%, according to estimates of the International Monetary Fund (IMF). "In our view, yields from announced policies and tax buoyancy will lower the fiscal deficit to 5.6% of GDP in 2011 and to 3.6% of GDP in 2012," the IMF said in a release issued upon completing its mission to Poland. The Fund stresses that in the recent update to Poland's EU convergence programme, the government assumed lowering the gap to 5.6% of GDP in 2011 and to 2.9% in 2012, this meeting the EU requirement of coming out of the excessive deficit procedure by that time. The IMF also expects the figure to fall to 2.0% of GDP "over the medium term." ISB

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