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Wednesday, May 29, 2024

Amendment to the 2023 budget passed by the Sejm

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On Friday, the Sejm passed an amendment to the 2023 budget. It increases budget expenditures to PLN 693.4 billion, reduces revenues to PLN 601.4 billion, and sets the deficit to a maximum of PLN 92 billion. The Sejm also amended the Budget Act.

On Friday, the Sejm passed an amendment to the 2023 budget. 235 MPs voted for the amendment, 187 voted against it, and 31 MPs abstained. The Sejm also adopted the Act on special solutions for the implementation of the Budget Act for 2023 and certain other acts, i.e. the Budget Act. 235 deputies were in favor of its adoption, 187 were against and 30 abstained from voting. After the adoption of the budget amendment for 2023, the expenditure limit is no more than PLN 693.4 billion (previously it was PLN 672.5 billion), budget revenues are to reach PLN 601.4 billion (previously it was PLN 604.5 billion), and the state budget deficit is to amount to a maximum of PLN 92 billion (previously – PLN 68 billion).

The most important changes introduced by MPs

During the vote, the deputies adopted the amendments to the act. The Sejm agreed to pay over PLN 650 million from the budget to the Physical Culture Development Fund for the implementation of its tasks. The amount comes from the funds that were supposed to be allocated to the “Olimpia” school sports hall construction program and which will not be used by the end of this year. The Sejm also supported the increase of the general reserve by PLN 250 million and the transfer of PLN 100 million to the implementation of the tasks of local governments. The deputies also supported the proposals to increase the income and expenses of the General Prosecutor’s Office, with the increased income resulting from won cases, while the expenses are to be allocated to additional awards. The Sejm supported the transfer of almost PLN 10 million to support disability assessment teams. These funds go to the budget of the Ministry of Family, Labor and Social Policy, as well as about PLN 7 million resulting from another amendment, which are to be allocated to an increased number of tasks. The change in the financial plan results from, among others, from updating macroeconomic assumptions. According to the current forecast, GDP expected to grow by 0.9% this year. (1.7 percent was originally planned), while inflation will average 12% annually. (was 9.8%). In addition, the budget stipulated that unemployment rate will be 5.5 percent. at the end of the year (5.4% was originally assumed), and the average gross salary in the national economy in 2023 will amount to PLN 7,104.

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Local governments will receive additional funds

Some categories of expenses are also increasing. Among them is the transfer of additional revenues of over PLN 14 billion to local governments this year. They are intended to supplement the general subsidy. As a supplement to the general subsidy, funds were included for the payment of a special award for teachers in 2023 and higher funds in connection with the planned determination of a higher base amount from July 1, 2023 for determining the contribution to the company’s social benefits fund. As part of the changes in the budget, additional funds will be transferred with the possibility of their use for employees of the state budget sphere for one-off payment of salaries in 2023 (additional funds will also be directed to teachers of schools and educational institutions run by government bodies) and about frostbite from July 1, 2023 the basis for calculating the company social benefit fund and social funds (by another two years) in relation to the amount planned for 2023. In turn, the amendment to the Budget Act provides for the rules for dividing the amount of over PLN 14 billion to be allocated to local governments. In addition, the act allows for the payment of one-off allowances to budget employees, as well as the payment of bonuses to teachers and additional remuneration for judges, assessors and referendaries. The act provides for the unfreezing of the bases for calculating the company social benefit fund and social funds from July 1, 2023 (by another two years) in relation to the amount planned for 2023. The act also provides for an increase in the amount of the write-off for the company social benefit fund for teachers and social funds for persons entitled to retirement benefits for uniformed services and members of their families from 1 July this year. Increased payments of funds will be transferred by September 30, 2023. Now both bills will go to the Senate.

Main photo source: Shutterstock

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