Poland Adapts Austerity Targets

BusinessEconomy ♦ Published: September 5, 2012; 18:16 ♦ (Vindobona)

Due to the economic crisis in Europe, the Polish government gives up its aim to reach a budget deficit below 2.2% of GDP.

Poland Adapts Austerity Targets / Picture: © Vindobona.org

As the Polish economy lost dynamics in the last months, the austerity policy will be eased. Instead of a 2.2% deficit, the new target is a budget deficit 2.9% of GDP. “Reducing the deficit to 2.2% of GDP is no issue anymore.” Maja Goettig, economic advisor of Prime Minister Donald Tusk told Bloomberg. Further tensions in the fiscal policy should be avoided. At the end of 2011,…