Tax collection must improve by PLN 12 billion - dep FinMin

Poland's tax collection must improve by roughly PLN 12 billion next year for the deficit to remain below 3 percent of GDP, the level recommended by the European Union, Reuters reported quoting an interview with Reczpospolita. "We preliminarily estimate that the gap, which must be covered through improved tax collection, so that the deficit stays below 3 percent of GDP, is at least PLN 12 billion," Skiba said. "The fiscal target for 2017 is a deficit not exceeding the threshold of three percent in relation to gross domestic product (GDP), and in following years - cutting it by at least 0.25 percentage points annually," Skiba also said, adding Poland's medium-term deficit goal is 1 percent of GDP. Poland left the EU excessive deficit procedure in 2015, but failing to maintain the level of deficit below 3 percent of GDP may lead to it being imposed again.