Reform of public finance and early euro zone entry top NBP's agenda

Already earlier he supported the idea that introducing the euro should be made as quickly as possible, which is 2007. Other NBP representative recently said that if the reform of public finances is not carried out, then Poland might enter the euro-zone as late as 2012. Balcerowicz thinks that if reforms in this field were not commenced this year, then economic growth will not be sustainable and next year politicians would use election-type excuses to avoid painful cuts. The chairman noted that one can see a gradual economic revival, but warned that the losses of heavy industry might torpedo the budget and the whole economy, as their negative profitability increased to 7.6%. (Puls Biznesu, pp. 1, 7) M.M.