National debt ratio in Poland
The national debt ratio of Poland indicates the relationship between the Polish national debt on the one hand and the Polish nominal gross domestic product on the other.
Development in recent years
Poland's national debt ratio increased between 2008 and 2013 due to the financial crisis . While the national debt of 600.8 billion zlotys at the end of 2008 corresponded to a government debt ratio of 47.1%, the national debt ratio at the end of 2013, given the debt level of then 934.4 billion zloty, reached a value of 57.1%. In 2014, the debt ratio fell significantly because the state reformed pension funds. The government bonds owned by private pension funds were transferred to a state pension fund. This means that the government in Poland has more financial leeway again, since if the national debt ratio were above 55%, the constitution would require it to take serious measures to avoid a further increase. If a second limit of 60% was exceeded, the government would be forced to balance the budget without further delay.
Forecast development
The International Monetary Fund assumes that the national debt ratio of Poland will decrease to 44.2% by the end of 2019 with a debt level of 1,013.2 billion zlotys.
Graphical representation
See also
- List of countries by national debt ratio
- List of European countries by national debt ratio
- Government debt ratio
Individual evidence
- ↑ International Monetary Fund: World Economic Outlook Database, October 2014, General government gross debt (National currency, Percent of GDP)
- ↑ Neue Zürcher Zeitung: Dismantling the pension reform - Poland dismantles the second pillar September 11, 2013, accessed on March 5, 2015.
- ↑ Poland must step on the debt brake