Stronger GDP growth to help reduce deficit - FM
Mateusz Szczurek, Poland’s finance minister, has said that his country will have “no problems” in reducing its budget deficit to 3.9 percent of GDP in 2014 due to an expected increase in GDP growth to “above 3 percent.”
Although the National Bank of Poland has forecast GDP growth at 3.6 percent for this year, Szczurek expects it to come in somewhat lower.
In November last year, the European Commission directed Poland to reduce its budget deficit to 3.9 percent in 2014 and to 2.8 percent in 2015. If Poland achieves the planned 2015 deficit figure, then it would have brought it below the 3 percent limit imposed by Brussels. This would in turn lead the EC to lift the Excessive Debt Procedure currently in place against the country.
