Government passes 2013 budget amendment
August 21, 2013
Deputy PM Janusz Piechocinski, PM Donald Tusk, and Finance Minister Jacek Rostowski
Poland's government has amended the 2013 budget to better fit slow economic growth, allowing the 2013 deficit to rise by some PLN 16bn and approving PLN 7.7bn in spending cuts, the government announced at a press conference Tuesday.
The 2013 deficit cap is now at PLN 51.565bn, rather than the PLN 35.566bn planned initially.
Prime Minister Donald Tusk said that the spending cuts proposed by the Finance Ministry were met “without any emotion and without any opposition” in the ministries.
Budget spending has been cut by PLN 7.565bn to PLN 327.294bn. The initial spending cut target was PLN 8.5 to 8.6bn.
The biggest cuts, PLN 3.146bn, will be at the Defense Ministry, Finance Minister Jacek Rostowski said.
In mid-July, Poland announced that a weaker than expected economy would derail its original budget plan and that it would let its deficit rise by PLN 16bn to face an estimated PLN 24bn revenue shortfall.
The President signed an amendment to the public finance law this Monday which suspended automated austerity measures and allowed for Tuesday's budget amendment.