News

Polish government to tighten spending

23/07/2001

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.

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