Bringing Polish inflation down to the level required for euro adoption will be easier than pushing the fiscal deficit below 3 percent of gross domestic product, central bank head Slawomir Skrzypek was quoted on Tuesday as saying. Warsaw aims to adopt the euro as soon as possible, but the economic slowdown has pumped up the budget deficit while inflation did not ease. This had put Poland in breach of all but one of the European Union's criteria for euro entry.
"Bringing inflation to the level required by the Maastricht criteria will not be a problem," Skrzypek told daily Dziennik Gazeta Prawna in an interview. "It will be much harder to bring the general government deficit down to below 3 percent of GDP."
Read more:http://www.iii.co.uk/news/?type=afxnews&articleid=7711602&subject=markets&action=article
Posts
