Budget shortfall for 2012?
PR dla Zagranicy
John Beauchamp
30.08.2011 09:00
Slower economic growth than previously forecast in Poland this year has meant that the budget for 2012 may fall short by up to 20 billion zloty (5 billion euro)
The report comes after last week’s adjustment by US-based investment bankers JP Morgan, which lowered its predictions on Polish economic growth in 2011-2012.
The bank forecast that economic growth in Poland will stand at 3.8 percent of GDP this year and at 3 percent in 2012, while previous predictions pointed to 4 percent and 3.4 percent respectively.
The influential bank predicted lower GDP growth for the whole Central Europe region, following more pessimistic forecasts for the world economy as a whole.
If Poland wants to keep to its EU promise of lowering the public finance deficit next year to below 3 percent of GDP, new ways of saving or increasing revenue must be found, Rzeczpospolita writes.
Economists in the daily also voice an opinion that a debate on next year’s budget should be undertaken, as the budget plans discussed in parliament back in May are too optimistic. (jb)