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Poland ends 2011 with public debt at 56.4% of GDP & general gov't deficit at 5.0% - Eurostat

October 22, 2012

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:

2008200920102011
Gross Domestic Product (GDP)1 275 5081 344 5051 416 5851 523 245
General Government deficit/surplus-46 950-99 596-111 291-76 680
- as % of GDP-3,7-7,4-7,9-5,0
Gov't expenditure (as % of GDP)43,244,645,443,6
Gov't revenue (as % of GDP)39,537,237,638,5
General government debt600 845684 082776 825859 076
- as % of GDP47,150,954,856,4

Following is a table with deficits in central gov't, local governments and social security sector, as provided by Polish stats office GUS:

Central government deficit/surplus-49 831-73 164-90 826-64 599
- as % of GDP-3,9-5,4-6,4-4,2
Local government deficit/surplus-2 364-14 304-17 386-10 733
- as % of GDP-0,2-1,1-1,2-0,7
Social security deficyt/surplus5 245-12 128-3 079-1 348
- as % of GDP0,4-0,9-0,2-0,1