Polish state budget deficit end-August just above 56% of FY plan

Polish state budget deficit end-August seen at PLN 25.9 bln, just above 56% of FY plan. Poland likely ended August with a cumulative YTD state budget deficit of PLN 25.9 bln, just over 56% of the full-year plan and is on track to fit just inside the F limit, deputy Minister of Finance Hanna Majszczyk told reporters.

“The deficit at end-August nominally came to about PLN 25.9 bln, that is just above 56% of the full-year plan”, she told reporters.

“VAT receipts performed a bit better than we expected, but you can still see the impact of deflation”, Majszczyk said. Excise receipts “turned out clearly better” as did revenues from other budget units, she indicated.

To-date performance in 2015 suggests Poland will end the year with a deficit very close to its PLN 46.08 bln limit, she indicated.

“The weak first half means that you can’t expect that the deficit this year will be significantly different from the established limit”, she said.




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