Poland's 2012 budget revenues seen lower than planned
September 7, 2012
Polish government will fall short of some PLN 1.3 billion in 2012 budget revenues due to VAT receipts lower by PLN 10.7 billion, offset by the profit from the central bank NBP, the 2013 budget draft shows.
". . . The current realization of budget revenues and the forecast levels of macroeconomic point out that 2012 budget revenues will be lower by some PLN 1.3 billion than adopted in the budget act," the document reads.
Lower realization of State budget revenues stems from "lower tax revenues, chiefly VAT (by PLN 10.7 billion)," but will be offset by the payout form the profit of the central bank NBP in the amount of PLN 8.2 billion, according to the draft.
Poland's 2012 budget deficit will amount to PLN 31.7 billion, the document shows.