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The Warsaw Voice » Comments » February 4, 2009
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From the Editor-in-Chief
February 4, 2009   
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Government spending has to be cut by zl.17 billion, Donald Tusk has announced, telling his ministers to carry out this task within a few days. That's a tough task because the amount is substantial (over 5 percent of the 2008 budget) while the needs are huge.

We can observe two seemingly completely contradictory ways in which the world is reacting to the financial and economic crisis. The Washington way is for the government to pump money into the economy, the Warsaw way is for the government to make economies. Both, though so different, are supposed to achieve the same thing-restore stability and prompt economic growth. One of the reasons for the Warsaw method is the meager content of state coffers, which makes it impossible to splash out billions. Actually, the Polish government is also planning to unlock substantial funds-to guarantee people's savings, support bank lending and ensure other forms of counteracting the effects of the storm, including its effects on wider society. The assumption is that one of the main accelerators of our economy will be dozens of millions of euros from the European Union earmarked for Poland.

Though ever present in the media, the crisis has not caused deep anxiety in society in general. We haven't yet forgotten much tougher times. If there's to be any talk of anxiety, it's more about deteriorating trust in politicians, especially those who want to boost their political capital on the economic difficulties.
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