Pre government adopted a draft budget prepared by the Ministry of Finance in early September. The Finance Ministry announced on Monday that on Wednesday, “do not expect major changes when it comes to macroeconomic parameters of the budget and the basic size” of the project budget. Prime Minister’s Office said on Wednesday that the finally adopted the draft is not made major changes.
developing the project, the Ministry of Finance has established that GDP growth in 2015. would be in real terms 3.4 percent., and the average annual inflation – 1.2 percent. It is envisaged that the deficit next year is not to exceed 46 billion 80 million zł. State budget revenues planned in the amount of 297 billion 252 million 925 thousand. zł, (against 277 billion zł 782.2 million planned for the current year), and spending 343 billion 332 million 925 thousand. zł. (Compared to 325 billion zł 287.4 million provided this year.)
Higher relief for children
The most important change in the system, the effects of which will impact both on next year’s state revenue from PIT and household budgets, is to increase by 20 percent. education tax credit for the third and subsequent child. This change is also possible to use the full amount of relief to those who previously showed too little tax to fully settle it.
Tusk: We will increase by 20% tax credit for families with three or more children ‘
Diet / x-news
New rules for VAT deduction
Significant tax changes that will affect the state budget in 2015. included a change the rules for deducting VAT on cars and other with a total weight up to 3.5 tonnes, and other expenses associated with these vehicles. These changes were introduced in 2014., The fact that some will apply from 1 July 2015.
lower excise duties on fuel
impact on the budget will also had planned reduction in excise tax on motor fuels, depending on the type of fuel by 25 zł / 1000 liters or 25 zł / 1000 kg. This change involves simultaneously with the increase in fuel duty rates for different fuels with the same values.
indexation of pensions in a new
important on the expenditure side of the budget will be announced by the former Prime Minister Donald Tusk indexation of pensions by the rate of 101.08 percent., along with a guaranteed increase in not less than 36 zł. The government has once again decided to freeze the wage bill in the public sector.
The deficit is still high
Chief Economist BPS TFI, Krzysztof Wołowicz stresses that, although changes in the pension system deficit, which will reach over 46 billion, it is still large, which may indicate that in the face of economic slowdown, the government wants to loosen fiscal policy. The economist believes that it can have a positive impact on the Polish economy. Krzysztof Wołowicz adds that next year’s budget assumptions are realistic, provided that in the world there are any unforeseen, sudden changes.
A trade war could hit the budget
The chief economist of Bank Millennium, Grzegorz Maliszewski notes that implementing the budget, the Finance Ministry will have to face many problems. Greater negative impact on the Polish economy may have a conflict between Russia and Ukraine and the trade war between Brussels and the Kremlin. Also a slowdown in the euro zone, which is the main trade partner of Polish, may have a negative impact on the economy of the Vistula River.
Experts remaining ministers and stimulate the economy in 2015.
TVN24 Business and World / x-news
According to the constitution, the government must ultimately submit the draft to the Parliament by the end of September. Parliament can work on the budget four months, the fact that the Senate has to present its amendments 20 days of the submission of the bill by the Parliament. If within four months from the date of submission of the draft budget to the Sejm, the bill is presented to the President for signature, he may within 14 days of order shortening of the term of office of the Sejm.
President has seven days to sign the budget bill; it can also – before signing it – ask the Constitutional Court on the compatibility with the Constitution of the budget. Court must rule on the matter within two months.
IAR, PAP, abo
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