Poland needs further action to cut fiscal deficit to 2.2pc, says OECD

The Polish government is on the right path to achieve its goal of reducing fiscal deficit to 2.9 percent this year. However, further actions are needed to reduce it to 2.2 percent of GDP in 2013, the May OECD Economic Outlook report says. In 2012 and 2013 Poland's real GDP growth will decline to about 3 percent from 4.4 percent in 2011 as a result of fiscal restraints, weaker external demand and decreasing dynamics of EU inflows, which will soften private consumption and investments, the OECD report said.