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Poland among EU countries with lowest deficit – finance ministry

Poland is among the countries with the lowest deficit in the EU zone, the chief economist of the Ministry of Finance has said commenting the latest data of the EU’s statistical office Eurostat.

According to Eurostat, Poland recorded a general government deficit (not seasonally adjusted) of 2.9 percent of GDP in the third quarter of 2020 against 16.3 percent of GDP in the second quarter. At the same time, the country’s seasonally adjusted general government deficit fell to 4.6 percent of GDP in the third quarter from 17.1 percent of GDP in the second quarter of last year, as thefirstnews.com reports.

The chief economist of Poland’s finance ministry, Łukasz Czernicki, specified that based on the result, Poland is among the countries with the lowest deficit in the EU.

He added that lower spending from the Covid-19 Countermeasure Fund and the state development fund PFR’s Financial Shield have contributed to improvement of the fiscal situation.

He considers this level of deficit to be the result of unprecedented support for the economy during the first wave of the pandemic.

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