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After October, the budget surplus amounted to 6.5 billion zlotys, announced the Ministry of Finance.
According to the communication, budgetary revenues for this period amounted to PLN 309.4 billion, or 87%. planned. PLN 302.9 billion was spent on the budget, 76.3%. planned for this year
amount. Thus, the budget surplus amounted to PLN 6.5 billion.
Higher income
The information indicates that, from January to October 2018, state budget revenues increased by 14.4 billion zlotys compared to the same period last year. Only taxes were raised to 7.7%, about PLN 20.3 billion more than in the same period of the previous year.
It was stated that compared to the same period last year:
– VAT revenues increased by 5.4%. (about 7.3 billion zlotys);
– revenues from excise duties and the gaming tax increased by 5.2%. (about 3 billion zlotys);
– Income from personal income tax increased by 13.7%. (about 5.8 billion zlotys);
– CIT's revenues increased by 16.5%. (about 4.1 billion zlotys);
– tax revenues of some financial institutions (the "bank tax") increased by 3.7%.
"Result of the situation on the labor market"
"The high incomes of PIT and CIT taxes result from a good situation in the labor market and high tax payments on people who run a business because of good economic conditions." In addition, the high revenues derived from the CIT are also related to the measures taken to tighten up the tax system "- explains the finance department.
It was also reported that at the end of October this year the non-tax revenue amounted to around 24.0 billion zlotys and was about 6.1 billion zlotys (or 20.2%) lower than the previous year. in the period from January to October 2017. "This is explained by the payment of NBP profit in June 2017, amounting to 8.7 billion zlotys, which was not the case in 2018. "- explains MF.
Expenditure Expenditure
According to the announcement, the execution of state budget spending after ten months of 2018 amounting to 302.9 billion PLN means that compared to the analogous period of 2017 (292 PLN 4 billion), they were PLN 10.6 billion higher.
Already in mid-November, Finance Minister Teresa Czerwińska had announced that preliminary budget implementation information indicated that after 10 months, the budget showed a surplus of about 6 billion zlotys. She specified that the exact amount of the surplus would be known after verification of all data.
The budget law for 2018 provided for a deficit of PLN 41.5 billion. However, in the justification of the draft budget for next year, the Ministry of Finance said expect the deficit at the end of this year to be less important and reach 23.76 billion zlotys .
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