Fiscal policy means postponing compliance with Maastricht criteria until 2007

The government's loose fiscal policy for 2004-2005 will result in compliance with the Maastricht criteria being postponed until 2007 and the introduction of the euro put back until 2009. This meets market demands. Former Finance M inister, Grzegorz Kołodko, planned the implementation of the Maastricht requ irements by 2006, which assumed entering the EMU as early as 2007. Kołodko, however, based those optimistic projections on an artificially reduced 2004 budget deficit, which is the criterion Poland has not yet met and is bound t o have the greatest trouble with. "Mid-term financial strategy for 2003-2007 is expected to meet the Maastricht requirements, so that a new government ca n decide on entering the euro-zone in 2008 or 2009," Deputy Prime Minister J erzy Hausner told the Sejm commission on Wednesday. He also said that the bu dget deficit would be increased during the following two years in a bid to a ccelerate the economy and to finance contributions to be made to the EU. (ww w.onet.pl) K.Z.