Rostowski optimistic on debt and growth

Minister Rostowski at press briefing, Monday: photo - PAP/Jacek Turczyk

Rostowski made the statement ahead of submitting the so-called “fiscal notification on 2011 economic growth’ to Brussels as part of its planned debt-reduction scheme.

Poland must convince the European Commission that it is cutting debt levels so as to maintain eligibility for EU grants and funding.

Debt levels are also crucial in meeting euro convergence criteria.

Poland's debt to GDP ration was 56 percent in 2011, four percent below the 60 percent threshold in its Constitution.

The cut in public debt is linked to Poland’s growth rates, and Minister Rostowski was bullish today on future GDP growth in what is the largest economy in the central and eastern European region.

"We anticipate 2.5 percent GDP growth this year and 2.9 percent next year. In 2014 [growth will be ] 3.2 percent., and 3.8 percent in 2015,” Rostowski said. (pg)