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Poland's 2021 budget deficit to be lower than expected, says ministry

Poland's 2021 budget deficit to be lower than expected, says ministry
Poland's 2021 budget deficit to be lower than expected, says ministry   -   Copyright  Thomson Reuters 2021
By Reuters

WARSAW – Poland’s 2021 deficit will be under 4% of gross domestic product (GDP), the finance ministry said on Thursday, below the 5.3% previously assumed.

Poland’s economy weathered the COVID-19 pandemic better than many regional peers and has bounced back strongly. The finance ministry said the deficit would continue to decline in coming years.

“We have a stable situation in the public finances. State budget revenues are growing,” Deputy Finance Minister Piotr Patkowski said in a statement.

The finance ministry also said that in 2021 it would spend 26 billion zlotys, or 1% of GDP, on servicing debt, a figure that is 3.3 billion zloty lower than the previous year.