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Estimated execution of the state budget. This is how the deficit increased. The Ministry of Finance published the latest data

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“The estimated implementation of the state budget in the period January – October 2024 in relation to the Budget Act for 2024 amounted to: revenues PLN 519.5 billion (76.1%), expenses PLN 649.3 billion (74.9%). ), deficit PLN 129.8 billion (70.5%) – announced by the Ministry of Finance on Friday, November 15. The ministry's estimates indicate tax revenues of PLN 464.6 billion and non-tax revenues of PLN 53.6 billion.

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Execution of budget expenditure for 2024. The Ministry of Finance provided the latest data

The tax revenues of the state budget amounted to PLN 464.6 billion and were higher than in the period January – October 2023 by approximately PLN 45.4 billion (i.e. 10.8%). State budget revenues from tax VAT were 18% higher. year to year (approx. PLN 37.1 billion) and amounted to PLN 243.6 billion after October 2024. During this time, PIT revenues increased by 17.2%. (approx. PLN 11.8 billion) to PLN 80.6 billion, az CIT tax were lower by 15.4%. (approx. PLN 9 billion) and amounted to PLN 49.8 billion.

“VAT revenues in October this year were higher by PLN 1.1 billion, i.e. 4.3% year-on-year and amounted to approximately PLN 26.4 billion. The VAT revenues in October concerned economic transactions carried out in September “In October, the Central Statistical Office announced that retail sales dropped nominally by 2.2% year-on-year. The September sales decline translated into a weakening of VAT revenue growth in October,” we read.

State budget in 2024. This is how the deficit will increase

Sejm amended the budget for 2024. The project assumes that state revenues this year will fall from PLN 682.4 to PLN 626 billion. “The macroeconomic situation has a negative impact on the forecast revenues of the state budget for 2024. Therefore, the maximum level of the budget deficit will be increased from PLN 184 billion to PLN 240.3 billion” – informed the Council of Ministers.

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