General government with PLN 13 bln surplus in Q1

The general government sector, which includes central and local governments institutions had PLN 13 billion surplus (2.7 percent of GDP) in Q1, the Ministry of Finance reported.

The result of the general government sector amounted to PLN 13 billion (2.7% of GDP) in the first quarter of 2018, the Ministry of Finance reported.

In Q1 2018, revenues of the general government sector (according to the ESA2010 rules) amounted to PLN 206 billion and were higher than the revenue in the corresponding period of the previous year by 11.3 percent y/y. The nominal increase in tax revenues which have the largest share in income was 13.9 percent y/y, the ministry informed.

In the same period, expenditures amounted to PLN 193 billion, which was a 6.4 percent y/y growth. “Social benefits, salary expenses have the largest share in the general government expenditure (including contributions) and expenditure on the purchase of goods and services (so-called intermediate consumption),” according to the ministry.

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