Budget reflects challenges ahead

19th June 2009

The budget for 2010 will be one of the most difficult budgets since 1989

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The government has issued budget figures for 2009 and predictions for 2010 indicating that sluggish economic growth and rising unemployment will continue to challenge its fiscal planning efforts over the next 18 months.

The Finance Ministry announced on Monday that the budget deficit for 2009 had reached PLN 16.4 billion at the end of May. The figure represents 90 per cent of the PLN 18.18 billion deficit projected for the entire year.

Spending for the first five months of 2009 reached PLN 127.5 billion, nearly 40 per cent of the PLN 321.2 billion budgeted for the year. PLN 111.1 billion was collected in receipts, or 36.6 per cent of the anticipated total revenue of PLN 303 billion.

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