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Government approves 2012 budget assumptions


The government on 5 April approved key assumptions for the draft 2012 budget. The document will be predicated on GDP growth next year of 4%, average annualised inflation of 2.8%, nominal wage growth in the national economy of 5.8%, and a central budget deficit of less than PLN 37bn (€9.3bn), down from PLN 40.2bn (€10.1bn) projected for this year. The registered unemployment rate is predicted to fall to 10% by the end of next year.

In 2012 the Ministry of Finance plans to increase the excise duty on cigarettes and to tighten capital-gains tax rules pertaining to bank deposits.

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