New Minister of Finance promises to guard the budget

APA - Austria Presse Agentur
opublikowano: 11-01-2006, 07:11

Warsaw (Puls Biznesu) – On Mondy, the financial markets welcomed the nomination of Zyta Gilowska to the post of the Minister of Finance. Euro was the cheapest in 3.5 years and cost PLN 3.75 while US dollar cost PLN 3.11. Zyta Gilowska was formerly an MP of Citizens’ Platform (PO) liberal party. Now, she is the minister of the Law and Justice (PiS) minority cabinet.

Warsaw (Puls Biznesu) – On Mondy, the financial markets welcomed the nomination of Zyta Gilowska to the post of the Minister of Finance. Euro was the cheapest in 3.5 years and cost PLN 3.75 while US dollar cost PLN 3.11. Zyta Gilowska was formerly an MP of Citizens’ Platform (PO) liberal party. Now, she is the minister of the Law and Justice (PiS) minority cabinet. PM Kazimierz Marcinkiewicz said she would manage economy policies of the government.

My aim is first of all to control budget spending and discipline the budget. The costs of the state machinery must be cut. I care for simplifying the tax system and lowering some burdens, Zyda Gilowska said.

Unfortunately, she failed to explain which taxes she would like to cut. She added that she was not going to submit any amendments concerning next year’s budget. She also did not want to say, when, in her opinion, Poland should enter the euro zone. According to economists, these opinions, albeit general, are good signs for the economy.

 

This enthusiasm will not last long. The new Minister of Finance will not do much about the 2006 budget. We will be able to say more about her when she comments on the government plans of social spending, including longer maternity leaves, tax deductions supporting families. However, her promises give a chance for a wise economy policy. I hope she will sooth the PiS policies, which are not liberal, Janusz Jankowiak, BRE Bank chief economist said.

According to Lukasz Tarnawa, PKO BP chief economist, whether Gilowska is successful depends on whether the cabinet has a long-lasting Parliamentary majority.

Weak minority government will not be able to have its good economy ideas implemented. I hope that the new minister will at least reform public finances and lower social payments, Lukasz Tarnawa said.

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