Government forecasts for 2000 budget too optimistic says NBP president

"We [NBP] think that the [GDP] growth will be slightly lower than 5.6%, around 5%," said Gronkiewicz-Waltz. She also confirmed that there will be no cut in interest rates this year. "The current account deficit does not favor such a move [to cut rates], " added the NBP president. Gronkiewicz-Waltz noted that increasing interest rates in 1999 is possible only under very extraordinary circumstances. She also noted that Thursday's zloty weakening is not that important and does not pose any threat. (Rzeczpospolita, Sep. 4-5, page B1)