Poland estimates an exit from excessive deficit procedure

The Polish government estimates that the country will exit the excessive deficit procedure "in less than two years" because of measures taken so far and an expected growth for 2014 and 2015, said Prime Minister Donald Tusk, quoted by The Warsaw Voice.

Poland, the largest economy in the Southeastern Europe, has an excessive deficit procedure since July 2009. Romania got out of the excessive deficit procedure last year.

"We believe the changes we have implemented and the cautious growth estimates for 2014 and 2015 will be sufficient to give the European Commission a reason to believe that we will reach the required budget deficit level (below 3% of GDP). This means that we will get out of the excessive deficit procedure in less than two years," said Tusk.