Poland recorded a current account deficit of 1.004 billion euros in June, higher than 889 million euros deficit in May and above the expected figure of 704 million euros deficit, according to central bank figures released Wednesday.
The trade gap amounted to 287 million euros.
Exports of goods increased by 28.6% year on year to 10.66 billion euros. The consensus forecast put export growth at 24.4%.
Imports grew by 27.8% year on year to 10.94 billion euros. The consensus forecast put import rise at 25.9%.
Poland sported a surplus on services of 300 million euros in June, a negative balance on income of 1.256 billion euros, and a positive balance on current transfers at 239 million euros.
Showing posts with label deficit. Show all posts
Showing posts with label deficit. Show all posts
Thursday, August 12, 2010
Donald Tusk’s Government After 1,000 Days in Office
August 11 marked 1,000 days of governing of Poland’s Prime Minister Donald Tusk from PO Civic Platform, which seems a good time to juxtapose the promises made at the beginning of the term with their actual realization.
The cabinet is satisfied with their performance. “The government has been able to successfully lead Polish economy throughout the global crisis,” Paweł Gras, government spokesman told reporters yesterday.
And, quite recently, the cabinet had to deal also with a severe winter, heavy floods and presidential plane tragedy near Smolensk, Gras reminded.
However, the opposition claims this time has been wasted. Below are some of the facts outlined by the daily Dziennik Gazeta Prawna.
Among the unfulfilled promises is public finance deficit reduction 1% in 2011 from 2.5% in 2007. Currently the figure amounts to 7.1%.
Unemployment rate reduction below 10% in 2011 appears also impossible considering outlook for 12.3% rate at the end of 2010, the daily says.
Of 2,000 km dual-carriage roads promised by 2012, Poles may see mere 100 km.
Of all promises made only decreasing the age at which children go to school has been fulfilled, the daily notes.
But despite all these problems, polls still show strong support for Civic Platform and Donald Tusk’s government.
The cabinet is satisfied with their performance. “The government has been able to successfully lead Polish economy throughout the global crisis,” Paweł Gras, government spokesman told reporters yesterday.
And, quite recently, the cabinet had to deal also with a severe winter, heavy floods and presidential plane tragedy near Smolensk, Gras reminded.
However, the opposition claims this time has been wasted. Below are some of the facts outlined by the daily Dziennik Gazeta Prawna.
Among the unfulfilled promises is public finance deficit reduction 1% in 2011 from 2.5% in 2007. Currently the figure amounts to 7.1%.
Unemployment rate reduction below 10% in 2011 appears also impossible considering outlook for 12.3% rate at the end of 2010, the daily says.
Of 2,000 km dual-carriage roads promised by 2012, Poles may see mere 100 km.
Of all promises made only decreasing the age at which children go to school has been fulfilled, the daily notes.
But despite all these problems, polls still show strong support for Civic Platform and Donald Tusk’s government.
Tuesday, June 29, 2010
Poland to Exit Deficit Procedure by 2013: Rostowski
Poland will bring its public finance sector deficit to below 3% of GDP in 2012 or 2013, meaning it will not longer be liable under the EU's excessive deficit procedure, Finance Minister Jacek Rostowski told Polish news agency PAP.
"Public finance reform will be conducted decisively but gradually, and certainly by 2012 and at the latest by 2013 we will be out of the excessive deficit procedure," Rostowski said.
The government aims to have the public finance sector deficit at 6.9% of GDP in 2010, 5.9% in 2011 and 2.9% in 2012.
"Public finance reform will be conducted decisively but gradually, and certainly by 2012 and at the latest by 2013 we will be out of the excessive deficit procedure," Rostowski said.
The government aims to have the public finance sector deficit at 6.9% of GDP in 2010, 5.9% in 2011 and 2.9% in 2012.
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