Poland's public debt seen at ca. 50pct of GDP at end-2014
February 6, 2014
Poland's public debt according to EU methodology will amount to some 50% of GDP at the end of 2014 following the cancellation of T-bonds handed over on Feb. 3 by private pension funds OFE, deputy Finance Minister Wojciech Kowalczyk said on Wednesday.
"Following the cancellation of the bonds acquired by ZUS the debt to GDP relation will amount to some 50% at end-2014 according to EU methodology," Kowalczyk said.
According to Poland's debt management strategy, the general government debt was forecast at some 58% of GDP at end-2013 compared to 55.6% at end-2012.
On February 3 private pension funds OFE transferred PLN 153.15 billion in assets to the state social security fund ZUS, including PLN 134 billion Treasury bonds, as part of the overhaul of Poland's pension system.