Last year's public deficit did not exceed 10 pct of GDP - minister

According to estimates, Poland's public deficit in 2020 did not reach above 10 percent of GDP, the Polish finance minister said on Thursday.

Tadeusz Koscinski told the Interia portal that the deficit was initially estimated at around 12 percent, but considering a much smaller GDP drop than expected (under 3 percent), would not exceed the level of 10 percent.

"The GDP drop will be much smaller than our cautious 4.6 percent estimate. The market indicated it could be around 3.5 percent, but it looks like it could even be under 3 percent. We can see this from tax revenues, which are quite high, including VAT. This looks better than we hoped," Koscinski told Interia.