Final data see Poland's central budget deficit at 73.0% of plan at end of July

By bne IntelliNews September 3, 2013

The central budget posted a deficit of PLN 25.95bn (EUR 6.06bn) at the end of July, which is 73.0% of the annual plan, as the ministry of finance has announced in its final data. Last month, it saw the seven-month gap at PLN 25.92bn, or 72.9% of the yearly limit, according to its preliminary data (a month earlier, it reached 72.7% of the annual limit).

In January-July, the budget revenue reached PLN 158.50bn. i.e. 52.9% of the plan, and expenditure - PLN 184.45bn, i.e. 55.1%.

According to the ministry's earlier budget realization schedule, the seven-month gap was projected at PLN 26.29bn, or 73.9% of the ceiling. It is worthwhile to note, however, that Poland's central budget deficit is a much narrower concept that the general government deficit.

In late August, the government passed an amendment to the 2013 budget law, raising the central budget deficit's limit by PLN 16bn to PLN 51.6bn. The move was  accompanied by cuts in public spending to the tune of PLN 7.66bn vs. the plan, presented in mid-July, of PLN 8.0-8.6bn.

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