Domański on the budget amendment: there is no need

Currently, there is no need to amend this year's state budget, said Andrzej Domański, Minister of Finance and Economy, on Wednesday.

– At the moment, I do not see the need to amend this year's budget. Revenues, for example VAT revenues, currently have double-digit dynamics – said Domański in Program One of Polish Radio.

The minister admitted that this year's state budget revenues are lower than planned in the Budget Act for 2025, and this is due to clearly lower inflation.

– Inflation forecast by both us and market analysts for 2025 in the middle of last year was 5%. Meanwhile, the latest inflation reading is below 3%. (…) From the budget point of view, this means slightly lower than planned revenues, mainly from VAT – said Domański.

He also noted that so-called natural savings appear in the budget. – We know that not all ministries and not all ministries will spend everything planned for the current year in this budget act, and that is why I maintain that at the moment I do not see the need to amend the budget for 2025 – he emphasized.

The budget for 2025 allows for a deficit of almost PLN 288.8 billion, expenses of almost PLN 921.62 billion and revenues of almost PLN 632.85 billion.

The minister also expressed hope that President Karol Nawrocki would sign the amendment to the CIT Act, which increases the income tax rate on banks.

– I hope that President Nawrocki will not veto this important bill improving the stability of state finances – said Domański.

Last week, the Sejm passed an amendment to the Corporate Income Tax Act, which increases the income tax rate on banks. The rate will be 30 percent. in 2026, 26 percent in 2027 and 23 percent from 2028 (PAP)

pif/ mrr/