FinMin: Public debt at over PLN 826 bn at the end of 2014
PR dla Zagranicy
John Beauchamp
01.04.2015 12:16
The Finance Ministry announced on Tuesday that Poland’s public debt stood at PLN 826,745.8 million at the end of 2014, up 3.1 percent on the third quarter of last year but lower by over PLN 55.5 billion in year-on-year terms.
Photo: Flickr.com/Chris RubberDragon
A statement from the Finance Ministry reads that “The decrease of public debt in 2014 resulted mainly from the cancellation of ST [State Treasury – ed.] securities in February 2014 as a result of pension system reform. That operation resulted in one-off reduction of ST debt by PLN 130,187.6 million.”
The Finance Ministry also reveals that the public debt to GDP ratio in 2014 amounted to 47.9 percent.
In terms of consolidated public debt, the Finance Ministry writes that “The central government is by far the most important debt issuer, representing 91.3 percent of public debt, of which 91.1 percent represents State Treasury debt. The local government sub-sector contribution was 8.7 percent of the total debt, of which 8.3 percent represents debt of local government units and their unions.” (jb)
The full report from the Finance Ministry can be read here [English, PDF].
Source: PAP/Finance Ministry