Friday January 11, 01:03 PM
INTERVIEW Polish deputy finance minister says likely to cut 2008 borrowing needs
WARSAW (Thomson Financial) - Poland may cut its borrowing needs for this year by 3 bln zlotys from an initially planned 48 bln if it meets new targets on privatisation, and should show a budget surplus in January and February, a deputy minister said today.
'If privatisation revenues will be realised at the level planned by the treasury ministry, then the budget's borrowing needs this year can be lower by 3 bln zlotys,' Deputy Finance Minister Elzbieta Suchocka-Roguska told Thomson Financial News by phone today.
'This may limit the scale of bond issues this year, although for now we have not changed our forecasts,' she added.
Poland's budget deficit for 2007 looks to have come in at almost half of the 30 bln zloty cap planned at the start of last year, lowering how much the ministry had to borrow on local debt markets and boosting bond prices.
Suchocka-Roguska said she expected no problems with bringing the deficit in at the 27.1 bln zlotys planned for this year.
'We estimate that in January and February the budget may show a surplus due to the income from VAT, excise and company tax,' she said.
'I see no immediate problems with the execution of this year's deficit.'
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