MF: Public finance deficit in 2016 higher than previously assumed

The deficit of public finances will reach 2.8 percent of GDP and will be higher than previously announced due to the low inflation rate and lower tax revenues, Minister of Finance Mateusz Szczurek told the Polish Press Agency (PAP). The government said earlier that the deficit will fall to 2.3 percent of GDP in 2016 from 2.7 percent. The minister also said that depending on the annual average currency rate, the public debt may grow to 48 percent of GDP. However, there is no risk that the deficit of 46 billion will be surpassed.