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The budget deficit after February. amounted to 11 billion 331.2 million zł, or 24.6 percent. authorized in the budget law for this year deficit of 46 billion zł 80 million – according to estimates published on Monday, the Ministry of Finance.
According to the Ministry of Finance to the State Treasury in February received 47 billion 151.7 million zł , or 15.9 percent. of the planned this year revenue of 297 billion 197.8 million zł. Tax revenues amounted to 42 billion 738.7 million zł (15.8 per cent. Of the planned amount of 269 billion 820 million zł).
Indirect taxes yielded 31 billion zł 55.6 million (15.6 per cent. Of the planned 199 billion 450 million zł), CIT – 4 billion zł 111.6 million (16.8 per cent. Of the planned 24 billion 530 million zł) and PIT – 7 billion zł 477.9 million (16.8 per cent. of 44 billion 390 million zł).
Until the end of February with a budget of 58 billion was spent 482.9 million zł, which is 17 per cent. the planned this year the amount of 343 billion 277.8 million zł.
The project schedule for the revenue and expenditure of the state budget for 2015. assumes that February had to close a deficit of 11 billion 310 million 364 thousand. zł (24.5 per cent. plan for the whole year), March in the amount of 18 billion 709 million zł 477 (40.6 per cent.) and April deficit of 20 billion 181 million 210 thousand. zł (43.8 percent.).
In May deficit would increase to the amount of 23 billion 120 million 27 thousand. zł (50.2 per cent. of the plan), in June, to a level of 27 billion 423 million 647 thousand. zł (59.5 per cent.) and in July to 29 billion 70 million 289 thousand. zł (63.1 percent.). MF has established that in August will be a slight decline in the deficit to 29 billion 35 million 712 thousand. zł (63 per cent.), but in September he will rise to 35 billion 137 million 544 thousand. zł (76.3 percent).
October is to close a deficit of 39 billion 912 million 699 thousand. (86.6 per cent.) And in November in the amount of 41 billion 320 million 524 thousand. zł (89.7 percent.). At the end of the year does not exceed the deficit recorded in the Budget Act authorized level of 46 billion zł 80 million.
In addition, the Finance Ministry said Monday in a statement that in the context of servicing the foreign debt of the Treasury in February repaid capital equivalent to 14, 5 million euros (60.4 million with) and interest equivalent to 198.2 million euros (835.6 million zł). Thus, at the end of February, the finance minister had at his disposal 7 billion 241.6 million (30 billion euro 48.9 million).
General government deficit in 2014. Was closer to 3.6 percent. Than 3.3 percent of GDP. GDP – finance minister said Mateusz Szczurek. He admitted that deflation this year is a challenge for the budget.
– I think that this final number will be closer to 3.6 percent. Than 3.3 percent of GDP. GDP – Szczurek said when asked about the size of last year’s public sector deficit. He also referred to the recent data of the Central Statistical Office of inflation, which in February. amounted to 1.6 per cent.
He said that it is evident that the average annual inflation in 2015. Will be a lot lower than provided for in the Budget for the year.
– This means that the revenue from VAT in certain categories goods in the first two months of this year., eg. when it comes to fuel, will be lower – Szczurek said.
He stressed that one must also remember that deflation has an impact on the real incomes of Poles and means slightly higher consumption. – Certainly deflation, a smaller increase in prices is a challenge for the budget – rated Szczurek.
He said that according to the definition of price stability, the Monetary Policy Council (the so-called. The inflation target of 2.5 per cent. Of possible deviations of +/- 1 per cent.) is also close to the Ministry of Finance and fiscal policy would be easier if we were closer to the NBP.
According to the February forecast deficit of the European Commission Polish public finance sector last year amounted to 3 , 6 percent. GDP, and this year will fall to 2.9 percent. GDP.
On Friday, the GUS that in February reached 1.6 percent deflation. year on year, and in January, prices fell by 1.4 percent. This surprised economists, who had expected deflation of 1.4 percent. yoy. The government had set a budget for this year that inflation will be 1.2 percent.
OPINION
It is estimated that the arrears of VAT, PIT and CIT are more than 45 billion, without interest. About the posted “Pulse of Business”. According to analysts, the amount of arrears is higher than forecast in the budget. The Minister of Finance has rated because that all tax debts in 2014, only slightly exceed 42 billion zlotys, and could reach 50 billion dollars.
Increase in amounts due to the budget in recent years, experts explained the crisis and the difficult macroeconomic environment. However, last year, Poland’s economy grew by more than 3 percent. The real problem is therefore the effectiveness of tax collection and the growing scale of the fraud on the part of companies – says Dariusz Bednarski from consulting firm Grant Thornton.
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