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General government deficit at 7.8% of GDP in 2010


The Central Statistical Office (GUS) announced that it has submitted a fiscal notification with the European Commission giving a final and official calculation of Poland’s general government deficit and debt in 2010.

According to the document, the general government deficit amounted to just under PLN 111bn (approx. €27.8bn) in 2010, i.e. 7.8% of GDP. This was up from 7.3% of GDP in 2009 and 3.7% in 2008 (the central government deficit was equal to 5.8% of GDP, compared with 5.3% of GDP in 2009 and 3.9% in 2008).

Simultaneously, the general government debt amounted to a little over PLN 776.8bn (€194.5bn) at the end of last year, i.e. 54.9% of GDP, up from 50.9% of GDP in 2009 and 47.1% in 2008.

The official deficit and debt figures for 2010 (as measured by Eurostat methodology) are slightly lower than a preliminary estimate published in April, which put them at 7.9% and 55% of GDP, respectively.

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