General government deficit at 0.9% of GDP

Poland’s general government deficit, calculated according to ESA’10 methodology, amounted to PLN 3.5 billion after Q1 2014, the Ministry of Finance said on Monday. It accounted for 0.9 percent of Poland’s GDP. If transfers from private pension funds were included in the balance, there would be a surplus of PLN 149.7 billion or 37.7 percent of the GDP, the ministry said. Earlier this year, Poland transferred 51.1 percent of assets from privately-held pension funds to the state-managed Social Insurance Institution.