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Poland to start deficit financing 2012
WARSAW: Poland will this autumn start gathering funds to finance its budget borrowing needs next year as it has nearly
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WARSAW: Poland will this autumn start gathering funds to finance its budget borrowing needs next year as it has nearly all the cash necessary to cover this year's gap, Finance Minister Jacek Rostowski said on Saturday.
"We have financed nearly 100 percent of this year's borrowing needs and in the fall we will be prefinancing the next year's budget needs," Rostowski said during a seminar.
Rostowski added the government will send next year's budget plan to parliament for approval by Sept 30, most likely without changes to already released figures.
The government in May approved next year's budget plan with a 35 billion zloty gap, a drop from about 40 billion zloty expected for this year.
Copyright Reuters, 2011
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