– After November this year The state budget recorded a surplus of PLN 50.4 billion – according to the information from the Minister of Finance Tadeusz Kościński, released on Friday to PAP. He added that the deficit at the end of the year will be lower than assumed and should not exceed PLN 30bn.
Below we publish the statement of the Ministry of Finance.
State budget execution in the period of January – November 2021. compared to the budget act for 2021 amounted to:
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revenues: PLN 451.44 billion, i.e. 93.5%
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expenses: PLN 401.06 billion, i.e. 76.6%
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surplus: PLN 50.38 billion
State budget revenue in January – November 2021
In the period January – November 2021, the state budget revenues were higher by PLN 69.0 billion compared to the same period last year. The tax revenues of the state budget were higher than in the period January – November 2020 by approx. PLN 58.4 billion.
Compared to the same period last year:
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VAT revenues were higher by 18.9% y / y (i.e. approx. PLN 31.8 billion),
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PIT income was higher by 14.3% y / y (i.e. approx.PLN 8.2 billion),
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CIT revenues were higher by 25.1% y / y (i.e. approx. PLN 9.5 billion),
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excise tax and gaming tax revenues were higher by 6.5% y / y (i.e. approx. PLN 4.4 billion),
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income from tax on certain financial institutions increased by 9.0% y / y (ie approx. PLN 0.4 billion).
In the period January – November 2021, the execution of non-tax revenues amounted to approx. PLN 55.4 billion and was higher by approx. PLN 10.6 billion (i.e. 23.6%) compared to the execution in the period January – November 2020. In June, a payment was made from the profit of the National Bank of Poland for 2020 in the amount of PLN 8.9 billion.
State budget expenditure in January – November 2021
The state budget expenditure in January – November 2021 amounted to PLN 401.1 billion, i.e. 76.6% of the plan. Compared to the same period of 2020 (PLN 395.7 billion), state budget expenditure was higher by PLN 5.4 billion, i.e. 1.4%.
Higher expenditure performance was recorded, among others, by on account of the European Union’s own funds by approx. PLN 3.4 billion, which resulted mainly from the increase in the Polish membership fee as a result of Brexit and the higher level of the EU budget and higher payment of customs duties. In addition, in January the effects of the EU budget adjustments adopted at the end of 2020 (PLN 0.4 billion) were paid.
In addition, higher performance was recorded under part 46 – Health, i.e. more by about PLN 6.3 billion, which results from the transfer of an earmarked subsidy for the National Health Fund and under part 82 – General subsidies for local government units, i.e. more by 3, PLN 5 billion.
At the same time, the lower execution of expenses is mainly related to the lower funds transferred to the Social Insurance Fund (less by approx. PLN 4.6 billion) resulting from the lower current demand for supplementary financing due to the good situation on the labor market and related to the expenditure on servicing the debt of the State Treasury (less by approx. PLN 3.0 billion). In Part 39 – Transport, the expenditure was lower by PLN 5.4 billion, which is mainly due to the parallel implementation of expenditure that does not expire at the end of 2020 in the field of maintenance and renovation of railway infrastructure.
In the amended budget act for 2021, the state budget deficit was set at no more than PLN 40.5 billion. However, it can be forecast that at the end of the budget year the deficit will be significantly lower than assumed and should not exceed PLN 30 billion.
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