Polish government to tighten spending
The Polish government has increased this year's budget deficit, previously estimated at zl. 20.5 billion ($4.8 billion), by almost zl. 8.6 billion ($2 billion). It also announced that it will cut spending by zl. 7.5 billion ($1.7 billion). Following the announcement, the National Bank of Poland (NBP) President Leszek Balcerowicz urged the government not to exceed its budget deficit by more than the proposed zl. 8.6 billion, because that would increase borrowing costs.
Polish exports to European Union countries almost tripled between 1992 and 2000, from $7.6 billion to $22.1 billion. The sale of processed foods rose steadily and strong growth was seen in sales of machines and other equipment.
