WARSAW, Apr 29: Poland will cut its wider general government deficit to 3.3 percent of gross domestic product (GDP) in 2014 and only meet the European Union’s 3 percent requirement in 2015, an updated convergence plan seen by Reuters showed on Monday.
The previous plan assumed reaching the 3 percent of economic output goal as soon as in 2012, but the ongoing crisis in the country’s main trade partner, the euro zone, hit the state coffers hard, prompting the government to revise the forecast.
The government also expects economic growth to be at 2.5 percent in 2014, up from 1.5 percent this year. The deficit is set to reach 3.3 percent in 2014.
Poland’s government is expected to approve the plan on Tuesday and send it to the European Commission afterwards. (AGENCIES)
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