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:

	2008	2009	2010	2011
Gross Domestic Product (GDP)	1 275 508	1 344 505	1 416 585	1 523 245
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)	43,2	44,6	45,4	43,6
Gov't revenue (as % of GDP)	39,5	37,2	37,6	38,5
General government debt	600 845	684 082	776 825	859 076
- as % of GDP	47,1	50,9	54,8	56,4

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/surplus	5 245	-12 128	-3 079	-1 348
- as % of GDP	0,4	-0,9	-0,2	-0,1

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.

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