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60% Cap on Public Debt Is No Longer Needed: FinMin

POLAND
  • Constitutional debt limit of 60% GDP is becoming an unneeded obstacle at a time the government is fighting to save jobs and keep the economy afloat
  • Judging by the success of our most recent bond issues, it's clear that what we're doing is acceptable to investors. So it seems to me this legal limit is not necessary for the markets
  • Ceiling isn't now needed as "investors globally can see that Polish economy has been growing very well" and because these aren't "normal times"
  • I'm not saying that there should be no limit and we should go bananas spending. But we should readjust"
  • We don't have any plans to introduce any amendments in this area
  • Our biggest priority is making sure that unemployment doesn't rise. The last thing we want to do is bring in fiscal consolidation too quickly"
  • Recent rise in government bond yields is "not a domestic issue, it's a global issue" and a "blip"
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market News
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market News

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