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.
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. The models are wrong, climate change is accelerating faster than predicted
    5 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    10 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    7 days ago
  5. Russia already treating Bosnia’s Republika Srpska as an independent state
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    1 month ago
  2. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  3. BRICS announce a blockchain-based payment system to create a common currency
    1 month ago
  4. Saudi Arabia to scale back plans for Neom city
    20 days ago
  5. Iran vs Israel: Who is better equipped for war?
    16 days ago

Reports

Dismiss