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Debt Insurance To Be Reduced In Poland

The budget deficit for 2009 may now stand below the revised zl27.2 billion target

The deputy finance minister of Poland, Dominik Radziwill has stated that there will be a reduction in debt insurance in September. Also, later in the year, there will be a revision in the economic forecasts and several successful bond tenders – reported Business Journal quoting Mr. Radziwill

He went on to add further that the budget deficit for 2009 may now stand below the revised zl27.2 billion target.

Mr. Radziwill said: “In September, we plan a decrease in debt issuance, both when it comes to treasury bills and bonds. Compared to August, this will be a slight decrease.

“In the fourth quarter, we plan a significant decrease of debt issuance because of lower borrowing needs and a big liquidity cushion, particularly after the recent successful tenders.”

Reportedly, the economy of Poland was up 1.1% in the second quarter of 2009.