General Government Cover Image

Sektor finansów publicznych
General Government

Author(s): Ignacy Morawski
Subject(s): Economy
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: public finance; public debt; fiscal consolidation; fiscal multiplier; Polish Investments

Summary/Abstract: Fiscal policy in Poland is strongly procyclical, weighing on GDP growth, and this trend will continue in the short term. „Polish Investments” program can potentially be an important source of financing for infrastructure projects, but its near term macroeconomic impact will be modest at best. Chances for rating upgrade are higher, but agencies may hesitate to make such a move because of rising public debt and growing dependency of debt market on foreign investors.

  • Issue Year: 2013
  • Issue No: 22
  • Page Range: 38-42
  • Page Count: 5
  • Language: Polish