Poland safe from finance crisis, says finance minister

Jacek Rostowski PAP/Radek Pietruszka.

According to Rostowski, the foundation for Poland’s economic security is "a policy of rapid growth, combined with financial responsibility."

He told MPs Tuesday morning added that under the centre-right Civic Platform/Polish Peasants Party (PSL) government, during the years 2009 to 2012, Poland has achieved the largest increase in public investment and one of the largest increases in employment in the European Union.

Rostowski said the proposed 2013 budget expects GDP will increase next year by 2.2 percent, while inflation will be at 2.7 percent.

Minister Rostowski warned however that next year will be harder than 2012, with an increase in unemployment and a slowdown in economic growth.

“We have reason to believe that after a difficult 2013, the Polish economy will accelerate,” he said, noting that the risk of a disintegrating eurozone has declined, which will improve the outlook for Polish markets.

‘Road to ruin’

“The road the government has proposed [in the budget] is the way the way to create more debt, unemployment and depopulation,” said Beata Szydło, an MP from the largest opposition party in Poland, Law and Justice (PiS).

Law and Justice is calling for more stimulus to the economy as demand for both exports and domestic demand slows.

“It is now need to pursue policies aimed at creating jobs and freedom from red tape for entrepreneurs [and not simply relying] on continuous cuts to budget spending and increasing fiscal stringency,” she added. (pg)

Source: IAR

This article was updated at 14.05, Tuesday