Polish government adopts 2013 budget draft
September 28, 2012
Poland's government has approved final version of 2013 budget draft with deficit of PLN 35.5 billion, a GDP growth forecast of 2.2% and average annual CPI forecast of 2.7%, PAP Polish news agency reported on Wednesday.
Poland plans to raise PLN 299.3 billion revenues, while spending is expected to hit PLN 334.9 billion, according to the statement from the government press office.
On the revenue side, tax revenues are expected at PLN 266.9 billion, including PLN 126.4 billion from VAT, PLN 64.5 billion from excise, PLN 29.6 billion from CIT and PLN 42.9 billion from PIT. Non-tax revenues should amount to PLN 30.8 billion.
The final draft trims the headline 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.