Masovia Going Bankrupt?

On a Downward Slide

On a Downward Slide?

For the past seven years (since 2006), the debt of the province of Masovia (the capital of which is Warsaw) has increased by 2,852% and now stands at PLN 2 billion, according to Calculations on the increase of the debt have been included in a repair programme prepared by the authorities of the Masovian Province and presented to the Masovian Provincial Governor. After the Governor gives his opinion on the calculations, it will go to the Minister of Finance who will decide whether to grant a loan from the state budget to the provincial authorities or not. The repair programme provides that in the years 2014-2019 the province will reduce its expenditure by PLN 2.3 billion. Money intended for education, culture and some medical institutions will be frozen. The Masovian Province will also reduce its expenditure on road maintenance and its own marketing and promotion. If further savings are necessary, the provincial authorities will consider the closing of cultural centres and schools as well as some rail connections of the Mazowieckie Railways (Koleje Mazowieckie) and Warsaw Commuter Railway (Warszawska Kolej Dojazdowa)

Get Newzar directly by email


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s