Cabinet accepts 2003 budget draft, Parliament to begin deliberations

On Friday the Cabinet accepted the 2003 budget draft, which envisages a budget deficit amounting to 4.5% of GDP. The government assumes that next year GDP will grow by 3.5% with 2.3% inflation. "Our efforts must focus on boosting growth. The budget revenues forecast are ambitious but not hopelessly optimistic," Deputy Finance Minister Halina Wasilewska-Trenker said. The budget draft, which is being sent to Parliament today envisages that the budget deficit will fall to zl. 38.7 billion from zl. 40 billion this year. Wasilewska-Trenker said the much criticized increase in spending will focus primarily on servicing higher debt costs and financing education, defense, the judiciary and agriculture, all of which are severely under financed. One billion zloty has been earmarked as contributions to the EU budget and for international aid. (Rzeczpospolita, pp. A1, B2; Reuters) M.M.