Poland leader signs 2007 budget into law

Poland's president on Tuesday signed into law the 2007 government budget, which foresees a slight reduction in the country's deficit.

This year's budget deficit is projected to be 30 billion zlotys (US$10 billion; euro8 billion), or 2.7 percent of gross domestic product.

That is a slight reduction from last year's 2.8 percent as Poland moves to meet European Union requirements to adopt the euro, which it is not expected to do until some time in the next decade.

The budget foresees spending of 257.8 billion zlotys (US$88.8 billion; euro67.8 billion).

The bill already had been passed by parliament. The office of President Lech Kaczynski -- the twin brother of Prime Minister Jaroslaw Kaczynski -- said the head of state has now given his final approval.

Source:businessweek.com