Polish deficit dropped to 2.3% of GDP in 2016: EC
PR dla Zagranicy
Roberto Galea
13.02.2017 12:21
Poland's public finance deficit fell to 2.3 percent of GDP in 2016, the lowest level since 2007, the European Commission has reported.
Photo: Radio Poland
According to a forecast by the Commission, in 2017 the deficit will increase to 2.9 percent of GDP, and in 2018 the figure will grow to three percent.
In a report published on the Commission’s website, the improvement over earlier estimates for 2016 was “mainly driven by a drop in public investment and one-off revenue, while tax collection was in line with budget plans”.
The increase in the deficit forecast for 2017 was caused by the “increasing costs of the lowering of the statutory retirement age,” the Commission wrote.
“The forecast does not include the effects of ongoing efforts to enhance the collection of taxes on production and income, as their likely impact is hard to estimate with sufficient accuracy at this stage,” the report added. (rg/pk)