ECOFIN Ministers agree Poland to miss 2007 deficit deadline - source

EU finance ministers endorsed the European Commission's view that Poland will miss its 2007 deadline for cutting its deficit below the stability and growth pact limit of 3 pct of GDP, an EU source said.

'The decision on Poland has been adopted,' the source said.

Poland's draft 2007 budget approved at the end of September puts the deficit at 3.7 pct, while the commission estimates 4.0 pct.

In July 2004, ministers decided Poland was in breach of the stability pact limit and should correct its deficit by 2007.
Source:forbes.com