Polish gov't to talk budget
PR dla Zagranicy
Victoria Bieniek
26.09.2017 11:14
This year is expected to close with a deficit of PLN 41 billion, GDP growth of 3.8 percent and inflation at 2.4 percent, according to a draft budget which is to be discussed by the Polish government on Tuesday.
Photo: pixabay.com
The finance ministry has set spending goals at PLN 397 billion and revenues at PLN 355 billion, leaving the deficit at 2.7 percent of GDP, less than the three percent threshold set by Brussels.
The draft budget has weighed costs associated with the government’s 500+ programme of handouts for families, now in its second year, and a reduced retirement age of 60 years for women and 65 for men, down from the 67 statutory age for both sexes set by the previous government that has not been fully implemented yet.
The draft budget also includes increased defence spending, an overhaul of the coal energy sector, and subsidised medicines for the elderly.
But the government has said that increased spending will be covered by the extra revenue coming in thanks to efforts to tighten tax collection. The government has clamped down on tax fraud.
The budget bill has to be submitted to parliament by the end of the month. (vb/pk)
Source: IAR