Estimated state budget deficit for 2021 at PLN 26.3 billion - FinMin

Poland’s state budget deficit for 2021 will come in at PLN 26.3 billion (EUR 5.8 bln), according to estimates released by the Finance Ministry on Friday.

The ministry also estimated last year's budget revenues at around PLN 495 billion (EUR 109 bln).

Budget revenues in 2021, the ministry said, were almost 18 percent higher than in 2020, and by around PLN 12 billion (EUR 2.7 bln), 2.5 percent, higher than planned. Expenditure was was higher compared to the previous year by PLN 16.5 billion (EUR 3.6 bln).

Estimated VAT revenues in 2021 amounted to PLN 215.7 billion (EUR 47.6 bln), an increase of 16.9 percent compared to 2020.

Revenue from excise duty in 2021 was estimated at around PLN 75.8 billion (EUR 16.7 bln), PLN 4 billion (EUR 0.9 bln) more than in 2020.

CIT estimates for 2021 are about PLN 52.4 billion (EUR 11.6 bln), up by 26.8 percent, which is PLN 11.1 billion (EUR 2.5) on an annual basis.