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Government adopts draft 2011 budget


2010-09-06

The government on 3 September approved a draft budget bill for 2011. It envisages a budget deficit of PLN 40.2bn (approx. €10.2bn), or 2.7% of GDP − down from PLN 52.2bn (€13.2bn) projected for this year − on the back of economic growth of 3.5%, compared with 3% in 2010.

State budget revenues are forecast to amount to PLN 272.1bn (€68.9bn) next year, up from PLN 249bn or €63bn in 2010, and expenditures are to reach PLN 312.3bn (€79bn), versus PLN 301.2bn (€76.2bn) this year.

Apart from an acceleration in GDP growth, the draft budget bill envisages a significant fall in unemployment in the course of next year, to 9.9% from 12.3% at the end of 2010, and a 1.4% real-terms increase in the average wage in the national economy, to PLN 3,359 (€850). The reduction in the budget deficit is to be achieved through a combination of tax rises (VAT, excise duty) and spending cuts.

The draft budget bill will now go before the Tripartite Commission for consultation with unions and employers, and is to be submitted to the Sejm next month.



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