Macroeconomic Forecast Poland

January 2005 | Macroeconomic Forecasts

Poland's improving fiscal outlook has been borne out by indications from the finance ministry that public debt for 2004 stood at 50.4-50.6% of GDP. This is well within the 55% and 60% thresholds which, under the country's constitution, would trigger automatic savings measures. The strength of public finances was helped by budget over-performance of PLN5.0bn in 2004, supported by greater expenditure discipline and strong GDP growth. In addition the zloty's appreciation against the euro and the dollar reduced the value of Poland's foreign debt. We expect that a potential shift to European accounting standards (ESA95) in the coming years will

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