Poland relaxes budget rules
Prepayment of IMF loan hardly to affect financing situation
Yesterday the Polish Prime Minister Donald Tusk announced that the government will suspend fiscal rules for this and the next year, which has been limiting the fiscal stimuli if the debt/GDP ratio exceeds 50 % (last year the debt has reached 52.7%). Government plans to widen budget deficit by 16 bn PLN in order to support stagnating economy. This amount corresponds roughly to 1% of GDP. Fiscal stimuli plans boosted Polish FX market and the zloty gained 0.8%.
Read the full report: FX Daily
KBC