Poland's current fiscal situation allows the European Commission to lift the Excessive Deficit Procedure, according to Olli Rehn, the EC's vice president and commissioner for economic and monetary affairs and the euro.

The commission uses this procedure to monitor the fiscal situation of countries with a budget deficit of over 3 percent of GDP. Poland's deficit is now 3.5 percent and the EC may decide that this level is satisfactory.

Mr Rehn explained that the commission may take into account the cost of Poland's pension reform. Poland was put under the monitoring of the Excessive Deficit Procedure in 2009, when its budget deficit was almost 6 percent.

Poland A.M.