Government adopts 2014-17 financial plan
Polish government adopted the financial plan for 2014-17 period. The plan stipulates for this year’s GDP to grow by 3.3 percent, average annual inflation to reach 1.2 percent an unemployment (using EU methodology) to drop to 9.8 percent.
Next year, GDP growth should rise to 3.8 percent and in 206-17 reach 4.3 percent levels. Average annual inflation will fall temporarily to 2.2 percent in 2017 when VAT rates return to 22 and 7 percent.
Unemployment by EU count will likely fall to 9.3 percent in 2015 and further to 7.9 percent in 2017, the cabinet said.
Poland is planning further fiscal tightening, with a one-off general government surplus in 2014 at 5.8 percent of GDP and a deficit of 2.5 percent in 2015, based on ESA'95 count.
