The European Commission has decided to lift the Excessive Deficit Procedure (EDP), said Prime Minister Ewa Kopacz. The recommendation, in order to come into life, needs to be approved by the European Council on June 19.
“This confirms our country’s great success. On one hand, we have fixed public finances, on the other, we managed to achieve the highest economic growth in Europe,” Ewa Kopacz told journalists in Gdańsk. According to her, Poland is on “the right track”.
The EDP was imposed on Poland in 2009 and suspended by the European Commission in June 2014. The excessive deficit procedure is imposed on every member state whose budget deficit exceeds 3 percent of its GDP or has a public debt that is bigger than 60 percent of GDP.
Exiting the EDP may result in lowering the VAT in a short-term perspective or an improvement in Poland’s ratings.