Poland reduces public debt by EUR 0.8 bln y/y

Poland's public debt decreased by some PLN 3.4 billion (EUR 0.8 bln) during the course of 2017 compared to the previous year, Finance Minister Teresa Czerwinska told a public radio broadcaster on Friday.

"The year 2017 was the first year in which we stopped the growth of public debt in nominal terms," Czerwinska stressed.

Poland's public debt amounted to PLN 961.8 billion (EUR 230.04 bln) at the end of 2017 and fell by PLN 10.37 billion (2.46 bln) or 1.1 percent during the fourth quarter and 0.3 percent against 2016. Its relation to GDP amounted to 48.5 percent, 3.4 percentage points less in annual terms, the Ministry of Finance announced in a Friday statement.

The fourth quarter decrease comes on a PLN 12.6 billion (EUR 2.99 bln) or 1.4 percent decline in central government debt, a PLN 2.24 billion (EUR 0.53 bln) or 3.3 percent rise in local government debt and a PLN 3.9 billion (EUR 0.93 bln) or 5.6 percent decline in social security system debt, the ministry noted.