That was the budget deficit after August. MF provided data

After August, the state budget deficit exceeded PLN 172 billion – the Ministry of Finance said on Monday in the estimated implementation of the budget. The income amounted to over PLN 362.7 billion, and expenses less than PLN 534.8 billion.

According to the data of the Ministry of Finance, tax revenues within eight months of this year amounted to approx. PLN 321.1 billion, of which PLN 59 billion came from excise duty, PLN 44.1 billion from corporate income tax (CIT) and PLN 4.6 billion from tax on certain financial institutions (so -called banking tax). Income from personal income tax (PIT) amounted to minus PLN 11.2 billion, which is caused by changes in the Act on local governments, which entered into force on October 1, 2024. As explained by the Ministry of Finance, the decrease in the MF of budget revenues from PIT and CIT is the result of their other division between local governments and the state budget.

At the same time, the State Treasury debt service consumed PLN 41.6 billion, and local government subsidies less than PLN 36.6 billion.

The Ministry of Finance had previously reported that after July expenses amounted to PLN 470.5 billion and the income PLN 313.8 billion. Thus, the deficit was PLN 156.7 billion.

According to the Budget Act, budget revenues are expected to amount to almost PLN 632.85 billion in the whole year, expenses less than PLN 921.62 billion, and the deficit is not to exceed PLN 288.77 billion. (PAP)

JLS/ MMU/