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Poland’s privatization plan shall help to close budget gap
Poland has dealt with the financial crisis better than any other European Union country and its GDP is bound to rise by a 1.2 per cent this year. It means that Poland is the only EU country that avoided recession. However the deficit has soared as a result of the crisis to more than 6 per cent of GDP. Now government wants to fight with it.
In his interview for Financial Times Polish Finace Minister Jacek Rostowski said: “We have to succeed in this very large privatization program that the government is going to undertake. I am convinced we won’t hit 55 per cent”. Mr Rostowski was referring to 55 per cent public debt ratio to GDP that cannot be higher if we want to join Eurozone in the near future.
The plan is to rise €8.9bn over next two years. It is ambitious, but not impossible as such companies as Warsaw’s Stock Exchange, electricity providers and other big players are on the table for grabs.
Aleksander Grad, the treasury minister said in a recent interview with the FT: “Our plan is realistic, and we will accomplish it over the next 18 months if the situation in the markets is no worse.”
Source: Financial Times
