Budget deficit stands at EUR 2.2 bln after April - FinMin

Poland's budget deficit stood at PLN 10 billion (EUR 2.22 bln) at the end of April, the Finance Ministry announced on Thursday.

In the January-April period, budgetary revenues measured PLN 173.7 billion (EUR 38.55 bln), which was 28.7 percent of the plan for the year and PLN 5.6 billion (EUR 1.24 bln) higher than the same period of 2022. Tax revenues were lower than in the January-April period of last year by around PLN 2.3 billion (EUR 510 mln), the ministry said on its website.

"Due to lower tax rates in 2022 and, as a result, higher than usual rebates of overpaid taxes, the decrease in PIT (Personal Income Tax - PAP) revenues compared to the analogous period of last year was expected and in line with the assumptions made in planning the budget for 2023," the Finance Ministry explained.

Budgetary expenditures for the first four months of the year amounted to PLN 183.7 billion (EUR 40.75 bln).