Rosati tells the government to hurry up with implementing budget cuts

Monetary Policy Member (RPP) Dariusz Rosati fears that next year the public debt may exceed 55% of GDP. The plan to rationalize state expenditures drafted by Economy Minister Jerzy Hausner is the most radical attempt to reform the public finances in recent years. However, I do not know why the government is lingering over its implementation and delaying the main cuts until next year," said Rosati. According to the RPP member, even after excluding revenues from privatization and subsidies from the European Union the government will still have to find around zł. 50 billion to balance the budget. "This may result in weakening of the złoty coupled with an increase in interest rates. Another RPP member, Grzegorz Wójtowicz, adds that if the most important ideas are implemented the series of bad budgets will finish with a happy end. (Parkiet, p. 8) A.Z.