The Ministry of Finance has presented the estimated figures for the implementation of the state budget in January-July 2022.  In this period, state budget revenues were higher by PLN 35.2 billion compared to the same period last year.

The Ministry of Finance stated that the estimated execution of the state budget in January-July 2022 in relation to the Budget Act for 2022 included: revenues: PLN 313.3 billion, i.e. 63.7 %; expenditure: PLN 278.6 billion, i.e. 53.4 %.

The Ministry also reported that in January-July 2022, state budget revenues were higher by PLN 35.2 billion compared to the same period last year. Tax revenues of the state budget were higher compared to January-July 2021 by approximately PLN 37.2 billion.

Revenues from all types of taxes increased compared to the same period last year: from VAT they were higher by 9.9 % year-on-year (i.e. approximately PLN 12.0 billion), from PIT they were higher by 12.5 % year-on-year (i.e. approximately PLN 5.0 billion), from CIT they were higher by 47.2 % year-on-year (i.e. approximately PLN 14.6 billion), from excise tax and gaming tax they were higher by 10.0 % year-on-year (i.e. approximately PLN 4.3 billion).

The Ministry of Finance reported that the budget recorded a surplus of PLN 34.7 billion. However, as highlighted in the release, the state budget result will change in the following months due to costs related to the Coal Allowance Law (approximately PLN 9.5 billion from the NBP’s profit will be used to finance coal allowances) and the costs of the proposed regulation, complementary to coal allowances, concerning financial support in the form of a one-off allowance for individual owners of other heat sources, which will cost another PLN 10 billion. “These measures, as well as further expenditures planned for this year, will affect the surplus and deficit in the following months”, explains the Ministry of Finance.

Adrian Andrzejewski