Poland’s government is keeping its estimate of about 4 percent economic growth this year, which will help cut the budget gap to less than 5.6 percent of gross domestic product, Deputy Finance Minister Ludwik Kotecki said.
Poland will keep 2011 public debt below the level forecast in the government’s four-year financial plan as it reduces contributions to private pension funds, said Deputy Finance Minister Ludwik Kotecki .
Poland’s government will have to revise down its 2013 economic-growth forecast to “probably” below 2.5 percent, Ludwik Kotecki, chief economist at the Warsaw-based Finance Ministry, said today in an interview on Radio Tok FM.
Poland’s economy will expand at a 4 percent rate this year, fast enough to shave 10 billion zloty ($3.45 billion) off its budget deficit and allow the government to begin financing next year’s needs, Deputy Finance Minister Ludwik Kotecki said in an interview in Warsaw yesterday.
The European Commission agreed to Poland’s request to “take into account” the fiscal burden of private-pension funds when evaluating budget deficits and public debt, Deputy Finance Minister Ludwik Kotecki said.
Poland’s Finance Ministry still estimates that the government’s budget deficit this year will be 10 billion zloty ($3.03 billion) to 15 billion zloty narrower than planned, Deputy Finance Minister Ludwik Kotecki was quoted today as saying by Dziennik Gazeta Prawna.