Poland plans additional 0.4pct of GDP in fiscal consolidation in 2014
January 31, 2014
The Polish government plans 0.4% of GDP in extra fiscal consolidation measures in 2014, which might help reduce the country's borrowing needs this year, and will continue savings efforts in 2015, Finance Minister Mateusz Szczurek told reporters.
"In 2014 we will need extra consolidation versus the one already written in the budget, in the amount of 0.4% of GDP," Szczurek said.
Additional savings will be sought "not only in the state budget but in the entire public finance sector," Szczurek said. "We are planning many small actions aimed at reducing the sector's deficit."
Those 2014 efforts will translate into lower than planned borrowing needs, according to the official.