Poland's budget deficit at 12.3% of full-year plan at end-June

Poland's budget deficit amounted to 12.3% of the annual plan, or PLN 3.678 bln, after the six-month period ending June, the Finance Ministry said on its website Monday.

However, the deficit growth is expected to accelerate in the reminder of the year to close at 3.4% of the country's gross domestic product.

"The brilliant implementation of the budget in the first six months does not mean it will be so for the rest of the year," said Katarzyna Zajdel-Kurowska, deputy finance minister, on news television channel TVN24. "Expenditures that have been moved to later months will accumulate in the latter part of the year."

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The six-month deficit resulted from revenues at PLN 115.3 bln, accounting for 50.4% of the yearly total and expenditures of nearly PLN 119 bln, or 45.9% of the annual plan.

It had stood at PLN 4.265 bln after the January-May period, or 14.2% of the yearly total.

Source: gielda.wp.pl