General government deficit to be lower than budget assumptions – FinMin

All indications are that the general government deficit will be “much” lower this year than the 2.9 percent of GDP assumed in the budget, Deputy Finance Minister Piotr Nowak said.

“Deficit last year was quite low, the budget seems balanced at the moment, so the deficit, everything points to it, will not reach 2.9 percent of GDP, but will be lower,” he added. “We would like the budget to have surpluses so that we can lower taxes, but it cannot be done during a single parliamentary term. It’s a long-term process, but trends are moving in the right direction,” Nowak said.

The budgetary assumptions for 2017-20 estimate the general government deficit to be at 2.9 percent of GDP this year and 2.5 percent in 2018. According to the Central Statistics Office (GUS), in 2016, the deficit amounted to 2.4 percent GDP.

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