Albert Zawada/PAP
According to Finance Ministry estimates, last year s budget deficit came to about PLN 85 billion (EUR 18.9 billion), Finance Minister Tadeusz Koscinski told PAP on Wednesday.
Koscinski said the deficit came in below the PLN 109 billion (EUR 24.3 billion) estimate resulting from amendments forced on the government by the Covid pandemic. We had to reset the budget to secure funding for anti-crisis measures, Koscinski said. We planned the deficit at over PLN 109 billion, but said that it could be below that. According to our estimates, the budget deficit for 2020 will be about PLN 85 billion.
He added that the lower deficit was also the effect of a rise in tax revenue, chiefly VAT, excise and CIT.
The Polish government will spend 30 percent of its allotment of EU post-pandemic recovery funds on Green Deal projects and 25 percent on a digital agenda, in line with EU recommendations, the finance minister has said.