WARSAW: Poland's 2016 budget does not increase the imbalance in public finances this year, but it may cause the deficit to rise beyond safe levels in 2017, the outgoing rate-setting panel said on Friday.
"The fiscal policy changes envisaged (in the budget bill) will make it harder to keep the deficit at a safe level in 2017, unless new, stable sources of budget revenue are found," the rate-setting panel said in a statement.
Poland will replace eight of the 10-strong Monetary Policy Council (MPC) by the end of the first quarter of 2016. Six will be named by parliament, which is controlled by the ruling Law and Justice (PiS) party, and two will be named by President Andrzej Duda, a close ally of PiS.
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