The hole in public finances is getting bigger. The Ministry of Finance presents the calculations
The Ministry of Finance informs that after eleven months of 2025 revenues to the state budget amounted to PLN 526.1 billion, and expenses PLN 771 billion. It was indicated that the revenue implementation reached 83.1%. annual plan, expenses – 83.7%, and the deficit – 84.8%. compared to the budget act for this year.
The largest share in revenues came from VAT, which amounted to PLN 297.9 billion, and from excise tax, which amounted to PLN 83.4 billion.
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Simple math tells us that with the values presented, the state budget deficit reached PLN 244.9 billion.
The reform of local government units weighs on the budget
According to the Ministry of Finance, if it were not for the reform regarding the shares of local government units (LGUs) in revenues, the state budget would receive a total of PLN 634.5 billion, i.e. PLN 108.4 billion more than currently.
Compared to the same period in 2024, this would mean an increase in income by PLN 55.7 billion, which is 9.6%. more year to year. The ministry emphasized that the decline in revenues compared to last year is solely due to a different division of PIT and CIT tax revenues between the state budget and local government units.
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Current data show that state budget revenues were lower by PLN 52.7 billion, which is a decrease of 9.1%. compared to last year, when they amounted to PLN 578.8 billion. Tax revenues reached PLN 465.9 billion, which means a decrease of PLN 52.4 billion (10.1% y/y).
Revenues from VAT, CIT and PIT. The Ministry of Finance provides calculations
In this amount, VAT revenues increased by PLN 25.9 billion (9.5% y/y), reaching PLN 297.9 billion. In turn, excise tax revenues increased by PLN 2 billion, which is an increase of 2.3%. rdr.
The Ministry of Finance also drew attention to PIT revenues. The state budget's revenues in this respect amounted to PLN 5.9 billion, which means a decrease of PLN 85.9 billion compared to the same period last year. However, the total revenues of the public finance sector from PIT, including the state budget and local government units, amounted to PLN 179.9 billion and were higher by PLN 21.3 billion (13.4% y/y).
In comparable conditions, without the reform of local government shares, state budget revenues from PIT could amount to PLN 102.7 billion, which would mean an increase of 11.8%. rdr.
The situation is similar in the case of corporate income tax. State budget revenues in this respect reached PLN 58.1 billion, which means an increase of PLN 3.4 billion (6.2% y/y). Without the local government reform, CIT revenues would amount to PLN 64.9 billion, which would mean an increase of 18.7%. rdr.
Non-tax revenues of the state budget in the period January–November 2025 amounted to PLN 58.2 billion, which is a decrease of PLN 0.3 billion (0.6%) compared to the same period in 2024.
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State budget expenditure in the same period reached PLN 771 billion, which is 83.7 percent. annual plan. They were higher by PLN 50.4 billion (7% y/y) compared to last year, when they amounted to PLN 720.6 billion.
The state budget for 2025 assumes a deficit of PLN 288.8 billion, with revenues of PLN 632.85 billion and expenses of PLN 921.62 billion.
