MF: for 2015 years the deficit will not exceed 3 percent. GDP – Banker

              Authorized requested that the deficit for 2015 years does not exceed 3 percent. GDP – so the Ministry of Finance commented on Tuesday CSO data, which shows that Polish GDP in 2015 grew by 3.6 per cent., Or more than assumed in the budget and more than in 2014.

 
 

The Ministry of Finance points out that “this indicates the strong foundations of the country’s development, the fact that the economy is on a path of sustainable growth.” At the same time, he adds, “preliminary data from the Ministry of Finance on the implementation of the budget for 2015. Permit the conclusion that the budget deficit will not exceed 47 billion zł.”

 

“MF does not expect that the implementation of the budget in other parts of the sector finance (eg. local governments) will weigh on the overall result. Consequently entitled to conclude that the deficit for 2015. not exceed 3 per cent. of gross domestic product “- reads.
 

In December, at the request of the Ministry of Finance Parliament amended budget for 2015. The amendment involved increasing the budget deficit by 3.9 billion zł to level of 49 billion 980 million zł. The government explained that lower revenue of 10.5 billion zł (3.5 percent.) Against planned in the Budget Act. Thereby assumed the previously budgeted revenue of $ 297.2 million zł were reduced to EUR 286.7 billion zł.

 

As the main reason for lowering revenue projections indicated lower by 13.3 billion zł revenue from VAT and excise duty 0.6 billion zł – while increasing the forecast revenue from corporate income tax of 1.1 billion zł, PIT about zł 0.6 billion and non-tax revenue of 1.7 billion zł. State budget expenditure was reduced by 6.6 billion zł in comparison to expenditure planned in the budget for 2015. Ie. The amount of 336.7 billion zł.

 

The finance ministry said in the explanatory memorandum to the amendment to the budget that natural savings the expenses that may arise in December 2015. can cause that this year’s deficit will be considerably lower than those provided 49.98 billion zł. MF assured, however, that the general government deficit and the government in 2015 may temporarily slightly above 3 percent. GDP (3-3,2 per cent. Of GDP), against estimated in the autumn forecast of 2.8 percent. GDP. (PAP)
 

PS / p /