PM: EC's decision on Poland's deficit to stabilize zloty's FX rate.

By bne IntelliNews January 12, 2012
The European Commission's decision that Poland has taken efficient measures to correct its excessive deficit on time (i.e. by 2012) will have a positive impact on financial markets, according to PM Donald Tusk. He added that this move will definitely stabilize the zloty's exchange rate "in some perspective." The Premier noted that the Commission's stance means that the Polish government does not have to take up more severe measures to cure the public finances. The government expects the general government deficit to fall to 2.97% of GDP in 2012 (i.e. below the 3% EU limit) from 5.6% estimated for 2011.
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