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Analysis
EU calls on Poland to put budget on sustainable path
The European Commission expects Poland's general government deficit to be below 3% of GDP this year. But, at the same time, it is expected to rebound above 3% in 2008, according to the Commission's autumn economic forecasts based, inter alia, on the draft budget adopted by the outgoing government, the EC said.
This calls for additional measures to put the Polish budget firmly on a sustainable path, especially in view of the positive economic outlook enjoyed by the country, it added.
The Polish authorities are, therefore, invited to submit, as soon as possible after the new government has taken office, an updated convergence programme describing additional consolidation measures for 2008 and the following years.
The updated fiscal strategy should be geared towards making permanent the correction of the excessive deficit in 2007 and making progress towards the medium-term objective of a structural deficit of 1% of GDP.
