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The Warsaw Voice » Business » May 12, 2014
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Thumbs up for reduction in fiscal austerity thresholds after pension reform
May 12, 2014   
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Poland's lower house of Parliament okayed an amendment to the public finance law reducing Poland's debt-to-GDP thresholds that cap budget spending growth following a notable reduction in debt stemming from a recent reform of the pension system.

The Polish government decided to reduce the thresholds for the spending rule by the 7 pps of GDP gained when it cancelled the Treasury bond portfolios taken from privately managed pension funds OFE at end-January. That move had reduced public debt by some 7.6% of forecast 2014 GDP.

The new thresholds for the spending rule are for public debt at 43% and 48% of GDP.
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