Sejm passes 2012 budget

2012-01-29

Sejm • budget bill • central budget deficit • budget revenues • budget expenditures

The Sejm on 27 January voted to approve the 2012 budget, with only minor adjustments. The bill pencils in revenues of PLN 293.7bn (€69.1bn) this year and expenditures of PLN 328.7bn (€77.3bn), translating into a projected central budget deficit of PLN 35bn (€8.2bn).
It is premised on the following macroeconomic assumptions: GDP growth of 2.5%, annual inflation of 2.8%, and an unemployment rate at the end of 2012 of 12.3%.
The bill now goes before the Senate and is expected to be signed into law by the President in early March.

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