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PM Donald Tusk announced on July 16 that Poland – so far considered unaffected by the crisis – will have to save 8bn zlotys (€2bn) and borrow another 16bn (€4bn) due to economic downturn and lower than expected tax revenues, reports Gazeta Wyborcza.

Experts warned long ago that figures in the 2013 budget, including 2.2 per cent GDP growth and 2.7 per cent inflation rate would have to be corrected. According to currrent estimates, GDP will not grow by more than 1 per cent while inflation will reach 0.6 per cent by the end of the year.

“Poles fear for their jobs, are spending cautiously and investing less,” explains the daily. Announcing changes to the budget due in August, the PM explained it would be better for the country’s economy to increase the deficit, set to rise to 51bn zlotys (€12.75bn), than implement drastic spending cuts. However, Gazeta Wyborcza does not seem to be convinced and concludes: “The cuts are coming.”