Poland. Privatization for growth. A risky solution?

23 Oct 2010

 Prime Minister Donald Tusk campaigned in 2007 on expediting privatization, even before the crisis hit, and the revenues from the sales, which were planned to be held from 2008 to 2011, are now helping the country cover a budget deficit that could grow to 8 percent of GDP this year, Tusk admitted this month.

 Growth in the country has unfortunately not meant stable public finances, then, as the government has, for the moment, relied on the privatization of more than 800 companies to cover costs. Compared with countries like the Czech Republic and Germany, Poland has not adopted austerity measures, preferring instead to continue feeding growth.

 The privatization plan is expected to generate 25 billion złoty (6.4 billion euros) over four years.

  Article – The Prague Post – October 2010.

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