Finance Ministry presents to gov't final budget bill for 2013
September 27, 2012
Poland's Finance Ministry put the final touch to its 2013 budget bill, sending the government a final version with a deficit of PLN 35.5 billion and a GDP growth forecast of 2.2%, PAP Polish news agency reported on Wednesday.
The final draft trims the deficit fractionally from prior versions. On September 4 the cabinet gave its preliminarily nod to a 2013 budget draft built on a 2.2% GDP growth forecast and with the deficit capped at PLN 35.6 billion.
". . . public finance sector deficit in 2012 will decline to the level of PLN 46.1 billion from PLN 55.9 billion in 2011," the document reads. In 2013 further improvement is expected, mainly on account of already implemented fiscal steps, with the deficit declining "by around PLN 2.7 billion compared to 2012."
"It means that the planned public finance sector deficit in relation to GDP will amount to some 2.6% in 2013 versus 2.9% in 2012," the document shows.
"It is assumed that changes of PLN rate both in 2012 and 2013 will be a factor decreasing PLN-denominated public debt," the document reads.