Poland's budget deficit at EUR 4.2 bln after April

Poland recorded an PLN 18.9-billion (EUR 4.2-billion) budget deficit after April 2020, the Finance Ministry reported in a Monday communique.

The deficit after March amounted to PLN 9.4 billion (EUR 2.1 billion).

According to the ministry, budget revenues totalled PLN 129.6 billion (EUR 28.8 billion) after April while outlays reached PLN 148.5 billion (EUR 33 billion) and were higher y/y by 14.2 percent.

During the first four months of the year, state budget revenues were lower by PLN 300 million (EUR 66.5 million) compared to the same period of 2019.

Tax revenues after April were higher by ca. PLN 8.7 billion (EUR 1.93 billion) year on year.

In January-April 2020, VAT revenue grew by 1.7 percent or PLN 900 million (EUR 199.5 million) y/y, PIT revenue went down by 10.9 percent or PLN 2.2 billion (EUR 490 million) while CIT income decreased by 28.9 percent or PLN 5.2 billion (EUR 1.15 mf/billion) y/y.