Poland met 3 euro convergence criteria in July

The Ministry of Finance informed that in July Poland fulfilled three euro convergence criteria: the fiscal criterium, the inflation rate criterium and the interest rate criterium. "The fiscal criterium was met. The EU lifted the Excessive Deficit Procedure in July, thus Poland reduced its excessive deficit one year ahead the deadline," the Ministry said. In July, Poland was among three countries comprising the price stability reference group , which means that the country met the inflation criterium. Poland's annual average interest rate stood at 2.7 percent and was lower by 1.6 percent than the reference value.