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Public finances
Poland may cut gasoline taxes, Belka says
Poland may cut its sky-high excise taxes until oil prices on the world markets come down to a more reasonable level, prime minister Marek Belka said on Friday. 'I've told the finance minister to tinker a bit with our gasoline taxes', Belka told students at a meeting at SGH business school in Warsaw.
World oil prices are 'a disaster', Belka said. On Friday oil prices in New York hit 40 dollars per barrel, the highest since Iraq's invasion of Kuwait in August of 1990. Decision on the possible cuts will be made sometime next week. Since early April cost of gasoline went up by 0.2 zloty per liter.
Separately Belka said faster than expected economic growth may reduce the country's budget deficit below a forecast record-high level of 45.3 billion zloty ($11.5 billion) in 2004.
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