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KERM approves GDP growth at 5.7% and 6.1% average inflation in 2001

2000-06-27 00:00
publikacja
2000-06-27 00:00

KERM approves GDP growth at 5.7% and 6.1% average inflation in 2001

The Cabinet's Economic Committee (KERM) accepted the Finance Ministry's forecasts for 2001 GDP growth and average inflation, but gave no figure of fiscal deficit. The assumed GDP growth would be 5.7% against 5.2% envisaged for this year. The average inflation would amount to 6.1%, while budget law for 2000 envisages 5.7%. All economists agree that this year's number is unrealistic and the actual average inflation could reach at year-end 9%. KERM recommended the government to increase in 2001 the real wages in profitable state-owned enterprises by 2% and to stay on hold with salaries in loss-making companies. The eagerly awaited figure of fiscal deficit should be known within days. Finance Minister Jaroslaw Bauc is expected to propose some tightening in the fiscal policy to find an equilibrium between the central bank, which demands cuts in public spending in order to curb large CA deficit, and ruling Solidarity movement, which wants more public money to be spent before the elections. The government must present its 2001 budget draft to parliament before the end of September.

Źródło:IntelliNews Daily
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