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Local government accounts show PLN 6.6bn surplus in H1


In the first six months of 2012 the local government sector generated a budget surplus of just over PLN 6.6bn (approx. €1.6bn), according to figures from the Ministry of Finance.

Local government revenues amounted to PLN 88.3bn (€20.8bn) over this period, up 5.2% compared with a year earlier and representing 48% of the annual plan; while expenditures totaled PLN 81.7bn (€19.2bn), up 4.2% y-o-y and 41.3% of the figure planned for 2012 as a whole.

At the end of June local government debt stood at PLN 64.4bn (€15.2bn), up 15% y-o-y and 35% of the total revenues forecast for 2012.

In 2012 as a whole local government accounts are projected to show a combined deficit of PLN 13.7bn (€3.2bn).

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