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General government deficit down to 5.1% of GDP in 2011


In 2011 the general government deficit amounted to just under PLN 78bn (approx. €18.9bn), i.e. 5.1% of GDP, the Central Statistical Office (GUS) announced on 23 April. This compares to 7.8% in 2010.

At the same time, the general government debt totalled just over PLN 858.9bn (€208.5bn) at the end of 2011, which represents 56.3% of GDP, up from a revised 54.8% a year earlier, according to the Eurostat methodology.

Eurostat data show that Poland's debt remains moderate by EU standards. At the end of 2011 the average general government debt to GDP ratio in the EU27 increased to 82.5% from 80% a year earlier, and in the euro area to 87.2% from 85.3%.

By contrast, the country’s general government deficit remains higher than the EU average, which was 4.5% at the end of 2011, down from 6.5% a year earlier (in the euro area it was 4.1%, down from 6.2%).

The Maastricht Treaty stipulates that eurozone members should have their general government debt below 60% of GDP and annual deficit below 3% of GDP.

See also the news item "Updated Convergence Programme: deficit to fall below 1% of GDP in 2015".

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