Poland records surprisingly low budget deficit in year to May

From 1 January to 31 May, budget revenues came in at PLN 143.3 billion (EUR 34 billion), or 44 percent of the 2017 target, while expenditure of PLN 143.5 billion was recorded, some 37.3 percent of that planned for the year.

That leaves a deficit of just PLN 200 million, a small fraction of the PLN 59.3 billion deficit forecast for December.

The finance ministry said that in the first five months of the year, compared to the same period in 2016, revenue from the VAT goods and services tax was 30 percent higher while income tax, both personal and corporate, bought PLN 3.3 billion more to the Polish budget. (vb)