Sejm passes 2005 budget without any last minute surprises

According to economists the Act is quite good. "The budget is achievable, while the expected increase in revenues seems to be based on realistic projections. However, it does not bring us any closer to meeting the Maastricht criteria. It is simply consuming economic growth and this opportunity was not used to carry out a long overdue reform of public finances," said Maciej Reluga, chief economist of BZ WBK. Others also share this opinion, but add that at least the budget is based on realistic foundations. Nevertheless, there is a threat that lower than anticipated GDP growth might limit revenues from indirect taxes, but this would not overly threaten the existence of the budget itself. "On the other hand if economic growth and inflation are higher than expected, then this could boost revenues," said Maciej Reluga. (Puls Biznesu, pp. 1, 7) M.M.