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High budget deficit in Poland
Poland's Finance Minister Jan Rostowski announced that he expected a record public deficit for 2010. He claimed that it can be as high as 52.2 billion złoty (12.6 billion Euro).
Those predictions were made in his interview for quality daily “Rzeczpospolita”. If Rostowski is right it means that the deficit will double comparing to 2009 and will be at the level of .8 per cent of gross domestic product.
This means that plans of Euro currency adoption may be postponed even further. The Finance Minister blames this on the financial crisis. “To be blown off course by a storm as big as this one is no shame to anybody,” he said. “At the moment we have far more important issues on our plate than entering the pre-euro exchange rate mechanism”- he added having budget deficit in his mind.
