Brussels will no longer oversee the Polish finance – Dziennik.pl

It already is clear – the European Commission will end today, the Polish financial supervision. Polish Radio has learned unofficially that Brussels will close against us the excessive deficit procedure. An opportunity to inform the decision will be announced economic recommendations for Member States.

The Commission has started a procedure against Poland six years ago, because then the public finance deficit exceeded the allowed 3 percent of GDP. Warsaw began to reduce, and eventually went below the limit, as confirmed by the latest data from the Commission. “The deficit in Poland will be lower than 3 per cent of GDP and reduction is permanent” – said in Brussels yesterday the finance minister Mateusz Szczurek. Therefore, the Commission has decided to terminate the procedure against Poland.

Such a procedure is nothing like disciplining country by the Commission and strict supervision over the finances. Theoretically, as a last resort for noncompliance with reducing the deficit Brussels may impose financial penalties or suspend payment of part of the funds. So far, however, it has never happened on this has not decided. While the image of the country suffers. The excessive deficit procedure undermines its credibility, because it means that the Commission does not trust government actions and must be monitored.

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