Polish Finance Minister submits 2012 budget ‘as is’
PR dla Zagranicy
John Beauchamp
01.09.2011 11:19
According to Finance Minister Jacek Rostowski, the Polish economy has shown resistance to global trends and as such no changes have been made to the 2012 budget, which was first drawn up in May.
Finance Minister Jacek Rostowski. Photo: PAP
“Our economy is surprisingly stronger than the prognoses given by many analysts,” Rostowski told TOK FM, Thursday morning.
Minister Rostowski pointed to the latest GDP figures issued by GUS, the Central Statistical Office, for Q2 2011, which state that the Polish economy grew by 4.3 percent year-on-year.
According to the finance minister, the figures given by GUS prove that analysts and government agencies do not have such in-depth numbers in order to forecast dependable data on the economy.
Rostowski underlined that it is still too early for analysts to determine the scale of the global economic slowdown, although he admitted that “these risks and dangers are present, and as such we finding a middle-ground [in the budget].”
Currently, Poland’s 2012 budget envisages an annual GDP growth of 4 percent, although recent forecasts from American investment bank JP Morgan pointed to a figure amounting to 3 percent for Poland’s GDP growth in 2012. (jb)