Poland to introduce new fiscal rules to improve public finance stability

The Polish government adopted a draft amendment to the public finance act introducing a new spending rule aimed at keeping public finance under control without compromising economic growth, the government said after a sitting on October 1 2013.

“A stabilising spending rule of anti-cyclical nature will be introduced, which will secure long-term stability of the public finance and will favour macroeconomic stability,” the statement said.

The new spending rule is based on running average of GDP growth, applying already to the 2014 budget. It will cover about 90 per cent of the central and local government sector spending, the government said.

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(Photo: Marcin Rolicki/sxc.hu)