Finance minister in talks with Brussels to reduce deficit

– The excessive deficit procedure is launched in 2023, which means that PiS leaves it to us. We are in contact European Union – The Finance Minister said.

– Our defense spending is increasing, and as a result, we are running a deficit. We are in contact with the EU, we are continuously conducting a dialogue and trying to convince the EU to take this fact into account, adds Andrzej Domański.

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– Point by point We implement our plans step by step, they involve costs, That’s one side of the story, but the other side is the fact that the Polish economy is growing at an accelerated rate. According to forecasts, it will grow by 3.1% this year and 3.7% next year. The minister added that economic growth means higher incomes.

Recall that European Commission She proposed on June 19 Placed seven countries under excessive deficit procedure. In a report published at the time, it cited a lack of corrective action in taking this step against Poland, France, Italy, Belgium, Hungary, Malta and Slovakia. Proceedings against Romania were also reopened.

Excessive Deficit Procedure Triggered in certain EU countries The public finance sector deficit will exceed 3% of GDP or the public debt will be higher than 60% of GDP.

In the past, when the EU decided to launch the excessive deficit procedure for individual countries, it would immediately make recommendations proposing a corrective path. This year, however, the European Commission will do this work later in November. The plan is to combine these recommendations with work on medium-term national plans, a novelty in fiscal rules that were introduced as part of the recent reform and require countries to draw up plans to control their finances.

Poland has been included in the procedure twice so far: in 2004-2008 and 2009-2015.