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Briefing
Poland: Fiscal Policy
Critical Issues
Background:
Poland's public debt burden is among the highest in Central and Eastern Europe, behind only Hungary. As of autumn 2009, the European Commission estimated Poland's general government gross debt at 51.7% of GDP for 2009.
Even before the onset of the global financial crisis, Poland's public finances were relatively weak. The country grew strongly from 2006 to 2008, but public debt continued to rise. According to Christoph Rosenberg of the IMF in a 2007 presentation: "The size of the government is growing over time and is out of line with regional peers."
Analysts note structural weakness in Polish public finances. In particular, around three-fourths of total spending in Poland is predetermined and cannot be easily reduced without changing the law.
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Associated Readings
Analysis
IMF
April 2007
Poland: Some thoughts on fiscal policy
Analysis
European Commission
Nov 03, 2009
Poland: Weathering the crisis relatively well
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