Poland likely recorded a budget deficit of around PLN 8.4 billion at the end of January, deputy Finance Minister Hanna Majszczyk told reporters on Wednesday.

"We preliminarily estimate that the deficit at the end of January amounted to 23% of the annual plan, that is in line with our plans," Majszczyk said. "In nominal terms it is PLN 8.4 billion."

"Revenues are in line with the plan," Majszczyk said. "VAT receipts are also in line with the plan and even a bit higher, while PIT receipts are significantly higher."

The Polish gov’t has budgeted a deficit of PLN 35.6 billion for FY 2013. The 2013 budget is based on the assumptions of 2.2% GDP growth, 2.7% inflation rate and 13% unemployment. Budget revenues are planned at PLN 299.39 billion and expenditure at PLN 334.95 billion.