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PLN 16.4bn central budget deficit at the end of February


2012-03-16



In the first two months of 2012 the central budget showed a deficit of just under PLN 16.4bn (approx. €3.9bn), which represents 46.8% of the figure planned for the entire year, according to estimates from the Ministry of Finance.

State budget revenues amounted to nearly PLN 46.4bn (€10.8bn) during this period, while expenditures totaled PLN 62.8bn (€14.7bn), which translates into 15.8% and 19.1% of the entire year’s plan, respectively.

The 2012 budget bill envisages revenues of PLN 293.8bn (€68.6bn) and expenditures of PLN 328.8bn (€76.8bn), translating into a projected central budget deficit of PLN 35bn (€8.2bn).

Meanwhile, official figures released by the Ministry of Finance on 15 March show that in 2011 the central budget closed with a deficit of PLN 25.1bn (€6.1bn), i.e. sharply below the official target of PLN 40.2bn (€9.8bn). The better-than-expected fiscal position at the end of December was thanks to a combination of higher budget revenues, which at PLN 277.6bn (€67.4bn) were 1.6% above plan last year, and lower expenditures, which at PLN 302.7bn (€73.5bn) were 3.4% lower than planned.



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