Poland 5 mths budget deficit narrows to 14.5-15 pct of FY projection - minister

WARSAW (Thomson Financial) - Poland's cumulative budget deficit to the end of May was 14.5-15 pct of the projection for the the whole of 2007, lower than an earlier forecast of 16-17 pct, said Deputy Finance Minister Elzbieta Suchocka-Roguska.

'Thanks to high revenues and lower-than-expected spending, we expect that after May the budget (deficit) will be 14.5-15 pct of the plan for the whole year,' Suchocka-Roguska told Thomson Financial News.

Poland's budget deficit last year came in around 5 bln zlotys below the 30 bln target, cutting the amount the ministry has to borrow on local debt markets.

The deficit this year is also planned at 30 bln, though the ministry has said it may again be several billion lower.

Source:By Paweł Sobczak, forbes.coml