Social benefits set to balloon to 500 billion by 2020

In 2006 alone the spending will be higher by zł.15 billion and will amount to zł.220 billion. In 15 years the figure will be almost zł.500 billion. Ministry experts believe that the so-called Hausner Plan has not brought as much in savings to the budget as previously expected. Economists warn that the government should seek different ways to lower public spending. One of the ways to lower the budget deficit and gain additional funds might be issuing treasury bonds. The data published by the Finance Ministry suggests that there is high demand from foreign investors for bonds issued by the Polish government. Bonds held by foreign investors were worth zł.62 billion in December 2004. The Ministry also announced that public debt amounted to zł.402.9 billion in 2004, a zł.24 billion rise compared to 2003. (Rzeczpospolita, pp. A1, B1, B2) D.W.