Fiscal Council: Poland lost control of public finances. Difficult years ahead

Prof. Andrzej Torój from the Fiscal Council warns that Poland has already lost control of public finances, and the current budget imbalance is unsustainable in the long term. The later the government tackles deficit reduction, the more painful the adjustment will be. According to OECD estimates, Poland may need fiscal adjustment of as much as 16 percent of GDP by 2060 — mainly due to the demographic tsunami hitting pensions and healthcare.

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