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Polityka Online - Poland | Tuesday, September 8, 2009

Polish budget is a fearful prospect

According to the government in Warsaw, the Polish budget deficit will double in the coming year, reaching 52 billion zloty (12.7 billion euros). For Cezary Kowanda writing in the online edition of news magazine Polityka this is a terrifying prospect: "If these 52 billion zloty are indeed what the government plans we can really start to get nervous. True, changes of heart are commonplace in politics. But in this case [Prime Minister] Donald Tusk's government is overdoing it. Just a few months ago [Finance] Minister Jacek Rostowski truly managed to convince us that Poland is not like the UK or the US, countries that can … get away with running up huge debts. Different rules apply to us on the international financial markets. And the more loans we get the worse the conditions at which we sell them become. … Not only the experts but also the markets have praised us for being so sensible [so far] - and the zloty has continued to grow stronger."

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