Poland's parliament approves 2007 budget

Poland's parliament voted Friday to approve the 2007 state budget that pegs the deficit at 30 billion zlotys (US$10 billion; €8 billion) with spending at the level of 257.8 billion zlotys (US$88.8 billion; €67.8 billion).

The bill slightly curbs the deficit, to 2.7 percent of GDP, down from 2.8 percent planned for this year, as Poland takes steps to meet European Union requirements for adoption of the euro, which would likely not come until sometime in the next decade.

President Lech Kaczynski, the prime minister's twin brother, recently said he favored 2010 as a date for a referendum on euro adoption.

Countries joining the euro must get their deficits under 3 percent of GDP to avoid undermining the common currency.

The lower house voted 234-192 with no abstentions to approve the plan as prepared by the socially conservative government of Prime Minister Jaroslaw Kaczynski with subsequent amendments.

Source:iht.com