Public finances
Polish debt levels may trigger new cuts
Public debt in Poland may well cross key threshold of 55 percent of the country?s GDP, several economists told PARKIET yesterday. Weaker zloty, lower than expected revenue from the sale of government assets and this year?s budget gap are the main factors that will determine the level of public debt at the end of this year, says Jacek Wiśniewski, an economist at Bank Pekao. By law, Poland has to implement drastic cuts in public spending if its debt crosses key ratio by December. Public debt in the first quarter alone rose...