Poland ends 2011 with public debt at 56.4% of GDP & general gov't deficit at 5.0% - Eurostat
Poland closed 2011 with public debt at 56.4% of GDP, fractionally above a prior estimate of 56.3%, after racking up a general government deficit of 5.0% of GDP for the year, down from a 5.1% prior estimate, EU stats office Eurostat said in a statement.
The figures are calculated on the EU's ESA-'95 accounting methodology used for Maastricht convergence measurement. That differs slightly from Poland's own accounting standard, applied in Public Finance Law and Constitution where thresholds of public debt at 50%, 55% and 60% of GDP trigger automated austerity.
Following is a table with revised debt and deficit numbers for 2011 and prior years:
Following is a table with deficits in central gov't, local governments and social security sector, as provided by Polish stats office GUS: