WARSAW, Oct 22 Reuters Poland39;s economic transformation in recent decades is remarkable, but it needs reforms to sustain growth, International Monetary Fund IMF officials told Reuters.
Poland is one of the great economic growth success stories in the world over the last 30 years, Geoff Gottlieb, IMF senior regional representative for Central, Eastern and SouthEastern Europe, said in a interview last week.
Poland39;s stilllow public debt level, strong track record on economic growth and an appropriately ambitious amount of fiscal consolidation over a short period, as pledged by the government, all boosted the country39;s fiscal credibility, Gottlieb said.
Earlier this month Poland said it would rein in its budget deficit to below the European Union limit in 2028, and its debt to gross domestic product GDP ratio in 2030.
We think that the amount of adjustment should just be more frontloaded when growth is strong, when inflation is still high and to establish credibility about the whole package, Gottlieb said.
It39;s always economically and even politically easier to do fiscal adjustment when growth is high.
The IMF forecast Central Eastern Europe39;s biggest economy expanding 3.5 next year while Poland assumes 3.9 growth in 2025, up from 3.1 expected in 2024.
Any extra revenue in the 2025 budget, Gottlieb said, should be saved to lower the deficit more than targeted.
However, IMF officials cited headwinds to mediumterm growth.
We have this strong growth…