Two events have called into question the advancing integration of Ukraine with the European Union. President Petro Poroshenko has acknowledged there is no chance of the Ukrainian government winning the war in eastern Ukraine as Russia will not allow that, and so he has pledged a series of major concessions.
At least 70 cities and municipalities have already launched their participatory budgets. Their number will grow since they are drivers of popularity and the local elections are scheduled as early as this autumn. Therefore, once again - after a year - we are watching the implementation of the idea of the participatory budget. A review of Internet reports shows that the process of creating participatory budgets has been professionalised by city authorities.
On the one hand, State Treasury property slowly gains in value, on the other, public debt is mounting rapidly. As it seems, before long, public debt might exceed the value of State Treasury property. Debt increase is common knowledge, while the value of the said property and its structure is not. Let us check whether those assets are put to effective use.
The Conference Board, almost a hundred years old global business organisation, published its economic development projections several days ago. The projections say that between 2013 and 2018 Poland’s GDP growth rate would be 1.9%, and 1.5% between 2019 and 2025. The pessimistic option is that the growth would be ca. 1% a year, while optimists say it would be 2.7% and 2.0%.
Recession looms over Ukraine. The oligarchs rule. A currency crisis may break loose at any time. Foreign investors demand a high risk premium, some of them retreat. High interest rates hamper domestic investment, while domestic consumption is stemmed by recession. And we do not have the first idea how poor our neighbour is.
The Government has submitted a draft 2013 budget to the Sejm. With the economic growth planned for 2.2%, revenue is to increase by 2.4% in nominal terms and expenditure by 1.9%, excluding the European funds. Analysis of the figures shows that the Government counts more on the increase in tax revenue rather than on expenditure savings.