Deputy PM announces his plan to increase the budget deficit

During his speech given yesterday at the Democratic Left Alliance (SLD) conference, Deputy PM, Jerzy Hausner, announced that he planned to increase the budget deficit over the next two years and then reduce it, so that in 2007, the country would meet the Maastricht criteria. "The deficit should be higher because of the necessity to find the money that Poland will be required to pay into the EU when it becomes a member next year," explained Hausner. He also added that if the criteria were met in 2007, then Poland would enter the Euro zone in 2008 or at latest in 2009. "We are aiming at a 5% GDP growth next year and maintaining it in the future," said Hausner. Furthermore, unemployment should stop increasing in 2003 and there are chances of limiting it in 2004 and 2005. Hausner also stated that the effects of the economic restructuring were closely linked to reaching an agreement with the Monetary Policy Council (RPP) on lowering interest rates and freeing the revaluation reserves. (Rzeczpospolita, pp. A1, B1; www.onet.pl) M.M