Good news for budget deficit

8th January 2010

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Poland, which ended 2009 as the only EU country posting economic growth, received more good news with the announcement that the budget deficit is lower than expected.

Jacek Rostowski, the finance minister, said that figures for last year put the deficit at PLN 24 bln to PLN 25 bln, four billion lower than expected, and roughly the same level as 2008.

“This means that the actions of government, i.e. the savings package brought in early 2009, have produced a very positive effect,” said Mr Rostowski.

Along with attributing the good news to the positive affects wrought by the government’s fiscal programme, the minister added that unexpectedly strong revenue was a key explanation ...