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

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.