17:07 18 November 2023
Poland with the second-highest deficit in the EU – EC response expected
If our deficit exceeds 3 percent of GDP significantly in 2023, as even the government forecasts, and there are no extraordinary, special reasons to justify this situation, the European Commission will impose an excessive deficit procedure on Poland, warns Ludwik Kotecki, a member of the Monetary Policy Council. The PiS government is leaving the state budget in a deplorable state for its successors, putting Poland at risk of an EU excessive deficit procedure.
“So far, we've had an inconsistent economic policy: monetary policy has been tightened and anti-inflationary, while fiscal policy has been loose and pro-inflationary,” the economist noted.
Kotecki assessed that the deficit of the government and local government sector could reach around 6 percent of GDP in 2023.
