IMF ups Poland's 2012 general government deficit forecast to 3.4% of GDP.

By bne IntelliNews October 9, 2012
Poland's general government deficit will probably amount to 3.4% of GDP in 2012 (vs. earlier expected 3.1%) and will shrink to 3.1% of GDP in 2013, only to go below the EU limit (of 3.0%) in 2014, when it will reach 2.6% of GDP, according to forecasts of the International Monetary Fund (IMF) included in its Fiscal Monitor. In 2015-2017, the figure is expected at 2.3%, 2.1% and 2.1%, respectively. The country's general government debt is projected at 55.1% of GDP in 2012 and at 55.3% in 2013 vs. last year's 56.3%. IMF noted that since 2009, Poland has launched a number of measures to improve its standing; these included on the expenditure side: public wage freeze/ reduction, control of the size of the civil service, savings from pension-related spending, reduction in social benefits; on the revenue side: increase in PIT, increase in capital gains tax, increase in social security contribution rates, increase in VAT, increase in excises.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EC refers Poland to court for delay on renewable energy rules.

The European Commission is referring Poland (and Cyprus) to the Court of Justice of the European Union for failing to fully transpose EU's Renewable Energy Directive, according to the ... more

ZEW Economic Sentiment Indicator for Poland surges to 42.9pts in February.

The ZEW-Erste Group Bank Economic Sentiment Indicator for Poland (economic expectations) surged by 22.3pts m/m to 42.9pts in February, according to a report by the Center for European Economic ... more

FinMin: Poland to inject EUR 5.5bn of FX reserves to ECB upon euro-zone entry.

When Poland joins the euro-zone, it will have to transfer EUR 5.47bn of its foreign-currency reserves to the European Central Bank, according to a statement by the ministry of finance. The ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    9 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. Russia’s war economy boosted by rising oil prices
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    22 days ago

Reports

Dismiss