2020-07-10 18:20 update: 2020-07-10, 18:37
PM Mateusz Morawiecki. Photo PAP/Paweł Supernak
The budgetary situation in Poland, after June, exceeded the expectations of the European Commission, PM Mateusz Morawiecki said on Friday.
Morawiecki, speaking to the Polsat News television station said that the EC and international institutions were confirming the very good condition and great strength of Polish public finances.
"These forecasts (for Poland) are the best in Europe," said Morawiecki adding that he was more concerned with the process of deflation in Europe and the world. "Every serious economist will confirm that in a recession that has not been seen since World War Two, we need to be more afraid of deflation, than inflation," the PM noted.
In May, the European Commission forecasted that Polish economy would decline by 4.3 percent this year. The newest forecasts indicate a drop higher by 0.3 percentage point. However, compared to other countries, the economic situation in Poland is to be relatively good.
The Polish economy showed relative resilience in the first quarter, mainly due to its low exposure to the affected sectors and a diversified economic structure, showed the forecast.
According to EC's forecast, the eurozone's GDP is expected to fall by 8.7 percent. (PAP)
