Poland's lawmakers allow for higher state deficit
The higher deficit reflects how much Poland's economy has slowed down.
WARSAW, Poland (AP) - Poland s lawmakers have allowed the government to amend its 2013 budget to make up for an increase in its deficit.
Prime Minister Donald Tusk revealed last week that, because of government revenues being lower than predicted, the country s deficit will be some 24 billion zlotys ($7 billion) higher than the 35.6 billion zlotys planned.
The higher deficit reflects how much Poland s economy has slowed down, after managing to hold off the global financial crisis for several years.
In a parliamentary vote Friday, the government was given the go-ahead to loosen its fiscal discipline and increase its budget deficit ceiling by 16 billion zlotys, while making spending cuts of some 8 billion zlotys to help bring the figure back on target.
