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Top News

Poland keeps $3bn privatisation target

Published Updated

imageWARSAW: Poland plans to raise 10 billion zlotys ($3 billion) from the sale of state assets next year, in line with previous expectations despite weak sentiment on global markets, the ministry in charge of privatisations said on Friday.

The centre-right government of Prime Minister Tusk cut the growth forecast in its latest budget draft over worries that Poland's economy would take a hit from the slowdown in the euro zone, including its top trading partner, Germany.

The deteriorating conditions have also pushed Poland to delay the sale of a further stake in lender PKO BP into next year, raising the prospect that the government may struggle to unload other state assets.

"Currently, we estimate that income from privatisation will be 10 billion zlotys, or the same amount we planned earlier," said Treasury Ministry spokesman Maciej Wewior.

He added that the government still expects 4 billion zlotys in dividends from state companies, although the figure will depend on economic conditions.

Tusk's cabinet is expected to approve the updated budget next week.

Copyright Reuters, 2011

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