Privatization process to continue despite forecasts of reduced revenues

Analysts are saying that it may still be possible to reach the target for privatization revenues this year, although the chances are diminishing. Treasury Minister Aldona Kamela-Sowinska had calculated that zl.18 billion would be raised this year from the sale of State assets, sufficient to cover 80% of the budget shortfall. However, analysts are now saying that the figure is more likely to be between zl.13 billion and zl.15 billion, a fall caused by the significant drop in the value of the firms to be privatized. According to Marek Zuber, analyst with bank BPH, "Although this is bad timing for privatization, the budget is forced to do it." The Treasury is determined to go ahead with the privatization process, the main reason being that if it fails, then it may have a devastating effect on the value of the currency. (Puls Biznesu, p. 24) M.M.