ZUS and national defense absorb the most. MF: Almost PLN 70 billion deficit

State revenues after March amounted to approximately PLN 125.2 billion, and expenditures amounted to approximately PLN 194.5 billion, thus the state budget deficit after March amounted to approximately PLN 69.5 billion – representatives of the Ministry of Finance informed the Sejm.

On Tuesday, during a meeting of the parliamentary permanent subcommittee for monitoring the implementation of the budget, representatives of the Ministry of Finance informed that the data for March are preliminary and may “change slightly.” The final data is scheduled to be published on Wednesday.

Surprising data from the state budget

At the same time, they reported that after March the state budget deficit was realized at the level of approximately PLN 69.5 billion, i.e. 25.6 percent. level planned in this year's budget act. Revenues of approximately PLN 125.2 billion are just over 19%. plan, and expenses (approx. PLN 194.5 billion) amount to over 21%. plan.

Moreover, data from the Ministry of Finance (MF) show that income in the period January – March was almost PLN 7 billion higher, or 5.7 percent. compared to the same period last year. Tax revenues amounted to PLN 112.5 billion, growing by PLN 6.7 billion year on year, of which VAT was realized at the level of PLN 86 billion (an increase of 2% yoy), and excise tax amounted to PLN 22 billion (an increase of 12.7% yoy).

Negative PIT revenues

PIT revenues were negative and amounted to minus PLN 31.1 billion, which is related to the implemented reform of the income of local government units. CIT revenues reached just over PLN 29 billion, which means an increase of 15%. year to year. Representatives of the Ministry of Finance reminded that from this year an increased CIT rate applies, among others. for commercial banks. It increased from 19 to 30 percent. and “the effects of increasing this rate are visible in the realized income from CIT.”

The expenditure was close to the previous year's level. The largest amounts were spent in the part of the budget related to:

• Social Insurance Institution (PLN 41.7 billion),
• national defense (PLN 24.2 billion),
• general subsidy from local government units (PLN 17.6 billion),
• debt servicing (PLN 15.3 billion, or 17% of the plan),
• health (PLN 14.7 billion).

The budget act for this year envisages revenues of PLN 647.2 billion, expenditures of PLN 918.9 billion and a deficit of no more than PLN 271.7 billion. (PAP)

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