The budget deficit for 2009 may now stand below the revised zl27.2 billion target
The deputy finance minister of Poland, Dominik Radziwill has stated that there will be a reduction in debt insurance in September. Also, later in the year, there will be a revision in the economic forecasts and several successful bond tenders – reported Business Journal quoting Mr. Radziwill
He went on to add further that the budget deficit for 2009 may now stand below the revised zl27.2 billion target.
Mr. Radziwill said: “In September, we plan a decrease in debt issuance, both when it comes to treasury bills and bonds. Compared to August, this will be a slight decrease.
“In the fourth quarter, we plan a significant decrease of debt issuance because of lower borrowing needs and a big liquidity cushion, particularly after the recent successful tenders.”
Reportedly, the economy of Poland was up 1.1% in the second quarter of 2009.