Polish Deficit Dropped to 2.3% of GDP
Polish Deficit Dropped to 2.3% of GDP

Polish Deficit Dropped to 2.3% of GDP

Polish Deficit Dropped to 2.3% of GDP

Polish public finance deficit amounted to 2.3% of GDP in 2016, the lowest level since 2007, Radio Poland quoted the European Commission report as saying. According to the EC, in 2017 deficit will amount to 2.9% of GDP, and in 2018 the figure will grow to 3%. In a report published on the EC’s website, the improvement over earlier estimates for 2016 was “mainly driven by a drop in public investment and one-off revenue, while tax collection was in line with budget plans”. The increase in the deficit forecast for 2017 was caused by the “increasing costs of lowering the statutory retirement age,” the EC wrote. “The forecast does not include the effects of ongoing efforts to enhance the collection of taxes on production and income, as their likely impact is hard to estimate with sufficient accuracy at this stage,” the report added.

Short URL : https://goo.gl/tYZ8YB
  1. https://goo.gl/r5B9MY
  • https://goo.gl/SU0ptU
  • https://goo.gl/PTvWNM
  • https://goo.gl/eUKWb1
  • https://goo.gl/nFqEPf

You can also read ...

World GDP is expected to advance 3.5% in 2017—its best year since 2011—and 3.7% in 2018.
Nearly 10 years after the financial crisis brought the global...
The OECD believes that tax evasions cost governments around the world as much as $240 billion a year in lost revenue.
They have revolutionized the way people live, but are US tech...
Supporters of EU-Mercosur Free-Trade Pact Push for Deal
Supporters of a free trade pact between the EU and the...
Few Signs of Progress in NAFTA Talks
Negotiations in Mexico to update NAFTA have not made much...
Kuwait Needs $100b Over 5 Years to Cover Deficit
Kuwait will need $100 billion of additional financing over the...
China to Help Shortfalls in Pension Funds
China on Saturday announced a pilot program to help pension...
Goldman Predicts Four Rate Hikes in US
The US economy is heading into 2018 with strong momentum that’...
Emmanuel Macron (L), French Labor Minister Muriel Penicaud (C) and Jean-Claude Juncker.
The EU is trying to present itself as more socially just,...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.