Government to accept amendment to the budget bill today
The government is to finally accept the self-amendment to this year's budget bill, which will adjust the budget for revised macroeconomic indicators, including lower economic growth, lower inflation and higher value of the zloty. GDP growth had been projected at over 5%, but now the government is considering lowering the expectation to 4.3%. The government will also decide on the use of expected revenues from the sale of UMTS licenses. If the money is used for extra spending, the economic deficit planned at 1.6% would grow up to 2%. This would also mean there will be no interest rate cuts in the nearest future, which could further slow down the economy. Stanislaw Gomulka, the Finance Ministry's adviser and a professor at the London School of Economics, believes that if the interest rates are not cut, economic growth could slow down to as low as 2% this year.
Źródło:IntelliNews Daily
