General government deficit at 50.2% of GDP in 2014
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The general government deficit, i.e. the deficit of the central and local governments and the social security funds controlled by these units, stood at 50.2 percent of GDP, compared with 55.7 percent of GDP at the end of 2013, the Ministry of Finance informed. The public deficit amounted to 47.9 percent of GDP in 2014, versus 53.1 percent of GDP in 2013.
“The deficit of central and local government institutions under the accounting framework ESA 2010 amounted to PLN 866.5 billion in 2014, a decrease of PLN 59.61 billion year-on-year," a press release reads. The public debt amounted to PLN 826.74 billion in 2014, a decline of PLN 55.54 billion (6.3 percent) y/y.
