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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)

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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)

tags: budget
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