Poland to leave Excessive Deficit Procedure on June 19?

Deputy Minister of Finance Artur Radziwiłł said in the Parliament that the Excessive Deficit Procedure (EDP) may be lifted on June 19.
He said that Poland will present a convergence plan to the European Commission at the end of April. On May 19, the Commission will announce its provisional decision and on June 19, the Council will make a final decision.
“Certainly, we are undertaking informal talks and activities so that the decision of the Commission is in line with our position,” said Radziwiłł.

The excessive deficit procedure is imposed on every member state whose deficit exceeds 3 percent of its GDP or has a public debt that is bigger than 60 percent of GDP. Poland has been stuck in the EDP since 2007.

Exiting the EDP may result in lowering the VAT in a shorter perspective or improving Poland’s ratings.

Pin It