Teresa Czerwinska, Polands newly-appointed minister of finance, told PAP the government had stopped the growth of public debt and the countrys public finances were stable.
In an interview with PAP on taking office, Czerwinska was asked to assess the current state of Polands public finances.
She replied that "the central budget deficit will definitely fall below PLN 30 billion (EUR 7.2 billion) for 2017, which is very positive news."
"As for the state of public finances," the minister added, "the answer can be provided by the size of public debt at the end of 2017 - for the first time, it has stopped growing and according to initial estimates, it has remained close to 2016 levels in nominal terms."
This means, the official noted, that between the end of 2016 and the end of 2017 - still according to initial estimates - the level of public debt relative to Polands GDP fell by over 2 percent.
"To be precise, according to European Union methodology, public debt dropped from 54,1 percent of GDP in 2016 to around 52 percent of GDP in 2017," Czerwinska said, "and when calculated according to national methods, it fell from 51.9 percent of GDP to slightly below 50 percent of GDP."
Moreover, despite the governments ambitious spending programmes, Polands ratio of debt to GDP is still in line with all of the EUs cautionary criteria, including the Maastricht criteria.
"We are one of the 12 EU countries," the finance minister observed, "with the debt-to-GDP ratio well below the limit of 60 percent."
"So we are among the states with very stable public finances," she added, "and I consider our budgetary situation to be very good."
"These are not slogans," Czerwinska emphasised, "in my academic career, I used to valuate securities and deal with mathematical finance, so I attach great importance to detailed calculations." (PAP)
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