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Government approves draft 2013 budget


2012-09-05



At its meeting on 4 September the government approved a draft budget for next year. Its key macroeconomic assumptions have been revised from an early version published a few months ago, to reflect a deterioration in the country’s economic environment and outlook.

Thus the budget draft foresees GDP growth of 2.2% in 2013, rather than 2.9%, and provides for a deficit of PLN 35.6bn (approx. €8.5bn), instead of PLN 32bn (€7.6bn), on revenues of PLN 299.2bn (€71.3bn) and expenditures of PLN 334.8bn (€79.8bn).

Inflation is projected to amount to 2.7% next year, and real wage growth in the national economy to be 1.9%. Employment will edge up by 0.2%, it is estimated.

To keep expenditures under control, the government will among other things maintain a wage freeze in the public sector in 2013.

The draft budget bill will now go before the Tripartite Commission for consultation with employers and unions.

Under Poland's constitution, the government has until 30 September to submit a budget for the next year to the Sejm.



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