Poland may be forced to revise budget in wake of pessimistic GDP forecast

Economy Minister Janusz Steinhoff yesterday revised down his GDP growth forecast for 2001, to between 3.7% and 4.0%. In the budget bill, GDP growth was set at 4.5%, a figure that itself represented a downward revision, from the previously-stated estimate of 5.1%. In recent weeks, members of the government have admitted that it would be impossible to achieve the 4.5% GDP growth that is the basis for this year's budget. Steinhoff said that the budget may be revised to take into account the slower growth and lower tax inflows. His comments followed a statement earlier on Monday by Finance Minister Jarosław Bauc that Poland may be forced to revise this year's national budget, because economic growth will fall short of planned levels. (Prawo I Gospodarka, p.3; Reuters) A.D.