Poland's budget may need to be revised

Poland's 2009 budget may be revised again if the worsening economic crisis proves to have a greater impact on Polish growth than the government has previously expected, Finance Minister Jarosław Rostowski said on Wednesday during a Sejm speech. However, Rostowski maintains that Poland has been relatively immune to the financial crisis and its economy has not felt major economic shocks that other countries experienced.

"Should the economic situation in the EU worsen further and impact Poland's growth by more than expected, then we will have to revise the budget assumptions again. We will not hesitate to do so," he said. "But I see the probability of such a scenario for now is low."

He reminded Poles that their money is safe in the banking sector, which in Q3 has reported rising profits and banks credit abilities have not dried up. In case the economic situation does worsen, the government has prepared a financial aid package, which will help maintain budget deficit and not increase public debt.

Source: TVN24