Polish public debt to fall under new strategy

Polish public debt is expected to fall to 38.2 percent of GDP by the end of 2023 under a new strategy adopted by the government.

The ratio of public debt to GDP is expected to decline to 44.9 percent at the end of 2019, followed by 43.5 percent at the end of 2020 and 38.2 percent at the end of 2023, under a public debt management strategy adopted by the government on Tuesday.

Poland’s public debt fell to 48.9 percent of GDP last year, from 50.6 percent in 2017 and 54.2 percent in 2016, the country’s Central Statistical Office (GUS) said in April. Former Finance Minister Teresa Czerwińska has said that Poland’s general government deficit and debt shrank last year on the back of efforts to ensure spending discipline and a growing stream of tax revenue.

Poland's government on Tuesday approved a balanced budget for 2020 that expects the economy to grow 3.7 percent, with inflation targeted at 2.5 percent.

The Polish economy grew 4.5 percent in the second quarter of this year, the country’s Central Statistical Office (GUS) said last month in a final estimate.


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