Official: Poland Deficit Reaches 15 Billion Zlotys ($5.2 billion)

Poland’s deputy Finance Minister, Elzbieta Suchocka-Roguska, said that after November the deficit will reach 15 billion zlotys due to accelerating expenditure in a meeting with Reuters on Monday. In 2008 the Polish government expects a deficit of 22.9 billion zlotys according to their full-year plan targets.

Over the weekend the Polish government set up an anti-crisis package for the value of 91.3 billion zlotys ($31.40 billion) and the Prime Minister said they have cut the economic growth forecast for 2009 from 4.8 percent to 3.7 percent.

Donald Tusk, the Prime Minister of Poland that the government is still determined to put Poland in the euro zone despite the economic slowdown.

The Polish government will talk about the amendment to the budget on Tuesday. The government had also announced that it would be boosting corporate lending by raising 1 billion in capital on the fully nationalized bank BGK bank.

Source: Guardian