Public debt in 2003 may exceed 50% of GDP, says Kolodko

The public debt may exceed 50% of GDP in 2003, Finance Minister Grzegorz Kolodko said yesterday. "Our public debt amounted to about 47.5% at the end of last year ... or about 44% according to EU criteria," Kolodko told public radio in a morning interview. Asked if the debt could exceed 50% this year, Kolodko said, "it is probable." He reiterated that he thought that the Central Bank's interest rates were too high despite a recent cut, saying that as a result public debt servicing costs were also high. "It would be good if the Central Bank supported out policies," the Finance Minister said. One way to improve the indices of public indebtedness is to switch to EU methods, which, among other things, do not include state guarantees in the public debt. (Parkiet, p. 6; Reuters) A.C./K.Z.