EC ire over Poland’s budget deficit

22nd May 2009

The budget deficit is of particular concern to the European Commission which sees a turbulent future for Poland as it increases beyond the 3 percent of GDP stated in the European Union’s growth and stability pact.


The EU’s commissioner of Economic and Monetary Affairs, Joaquín Almunia said in a statement, “Many EU countries are presently facing budget deficits above three percent on account mostly of the economic recession, which brings about declining tax revenues and rising unemployment benefits.”

“We have difficult economic moments ahead of us, but simultaneously the times in which we’re living require clear decisions and strategy in order to rebuild trust,” he said.
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