Dług publiczny Polski – cele w średnim i długim horyzoncie
Public debt in Poland – middle-term and long-term targets

Summary/Abstract: Public debt creates currently (2018 year) many important problems for the public finance ofPoland. They comprise: excessive debt level, especially foreign debt (residents), high level of profitabilityof the debt (because of low rating), significant level of the deficit of public sector and lackof accession to EURO. Such a state of affairs produces many disadvantages: permanent tension inpublic finance, confinement of the area of activity within state budget and insufficient level of nationalsavings. It is necessary to eliminate these effects; in the area of public debt modernization ofdebt management and strategy is needed.Improvements regarding the issue of the debt need to be as follows:• development of the middle- and long-term debt strategy directed at improvement of rating by atleast two levels and stable decreasing of the relation between costs of debt and GDP (below 1,5%);finally – achievement of at least the third level (S&P) and servicing costs below 0,5% GDP; thestrategy has to be under constant monitoring and necessary corrections should be done,• amendment to the law concerning the public debt directed at stable improvement of a situation,taking into account the fiscal pact,• consistent implementation of requirements of the excessive deficit procedure and recommendationof UE Commission in case of exceeding the limits of deficit and debt (3% and 60%),• implementation of a strategy of high dynamics of: economic growth and foreign investments andthe quickest access to EURO countries,• elimination of a risk concerning breaking the rules of law and improvement of the position as faras the corruption ranking is concerned; moreover – constructive cooperation with internationalinstitutions, especially with units of EU, consistent with the spirit and rules of law.

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