The project assumes a budget deficit of PLN 271 billion 740 million, which makes it one of the largest in recent years. An important element of planned income are dividends from the shares of the Treasury in companies. The Ministry of Finance estimated that in 2026 the state will obtain from this source as much as PLN 7 billion PLN 896 million – This is an amount that exceeds this year's plan by 126 percent. and expected income execution in 2025 by 55.5 percent According to the regulations, 70 percent Dividends are powered by the state budget, while the remaining 30 percent He goes to the Capital Investment Fund.
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KNF recommendations will be important
The ministry pointed out that the amount of dividend income will depend on the financial condition of companies, their investment and market situation. The recommendations of the Polish Financial Supervision Authority “regarding companies covered by the State Treasury are also an important factor” – noted the ministry in the justification. The end of the year with the financial results developed remains a key determinant of the success of planned budget revenues.
The published budget project also includes other sources of income. From the profits of state -owned enterprises, the state is to gain 1 million 200 thousand. PLN, which is 20 % more than a plan for 2025, but less than the execution from 2024. The Ministry of Finance, however, indicated that out of several state -owned enterprises present in Poland, half is bankrupt, which limits the possibility of increasing influence.
“Budget revenues also include payments from Bank Gospodarstwa Krajowego,” says the ministry in documents. In this respect, revenues of PLN 1 billion 400 million are expected, which is an increase of 7.7 percent. compared to the previous budget year.
No influence with the NBP
However, the lack of forecasted influence from the National Bank of Poland arouses the most emotions. According to the prepared project, in 2026, no payment from the NBP profit is expected, which was justified by the bank's financial results in the past. “In 2024, the NBP's financial result was negative and amounted to minus PLN 13 billion 347.9 million,” reminds the ministry. As a result, in 2025, the National Bank of Poland did not transfer any funds to the state budget. The possibilities that the NBP will have in the coming years
The Ministry of Finance draws attention to difficulties in precisely determining the financial result of the National Bank of Poland, indicating the variability of exchange rates and other variables independent of the bank. These results may make stable budget planning, leaving the deficit at a high level.
