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President signs off on 2011 budget


2011-02-02



President Bronislaw Komorowski has signed into law the budget bill for 2011. It envisages a central deficit of maximally PLN 40.2bn (approx. €10.3bn), down from PLN 52.2bn ( €13.4bn) officially forecast for 2010 (though the actual figure was just below PLN 45bn or €11.5bn, a senior Finance Ministry official said on 1 February). The general government deficit is to shrink by a third.

State budget revenues are projected to come in at PLN 273.2bn (€70.1bn) this year, while expenditures are to reach PLN 313.4bn (€80.4bn).

The 2011 budget is premised on GDP growth of 3.5%, up from 3% forecast in the 2010 budget, and inflation of 2.3%. The unemployment rate is to fall to 9.9% by the end of the year (from 12.3% at end-2010), thanks to the net addition of nearly 190,000 new jobs.



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