MF: Higher tax exemption will ensure a more socially just state

“Raising the income tax threshold realizes the postulate of a socially just state” Minister of Finance Pawel Szałamacha commented Monday. He admitted this could result in a decrease of funds for municipal governments, but argued that this should be countered by the positive effects of th...

Locked content Ministry of Finance on FX mortgage loans draft bill

The Ministry of Finance has issued an opinion on a draft bill presented by the President, in which it says that the proposition is fair and banks may spread losses over time. The ministry also said the proposed mechanism allows the release of a part of LTV-related (loan-to-value) reserves. The presi...

Locked content MF sold PLN 2.4 bln worth treasury bills

The Ministry of Finance sold  32-weeks treasury bills for PLN 2 billion on Monday, with demand at PLN 10 billion, the ministry informed. In a supplementary tender, the ministry sold bills for PLN 400 milion, with demand at PLN 1.6 billion. The minimum price was calculated at PLN 9,915, while bills&#...

MF: Bond sales in 2015 highest in 6 years

Retail savings bonds sales reached PLN 3,22 billion in 2015, topping the figures for the last 6 years,  an official from the Ministry of Finance announced. In December 2015 alone, standard savings bonds sales amounted to PLN 280 million, the highest amount for a single month since March 2010.

Locked content Tax allowance will not be changed this year

Paweł Szałamacha, the finance minister announced that the government will not take care of reforming the personal tax allowance law this year,  Puls Biznesu daily reported. “We will not increase the amount of income exempt from tax in 2016,” Szałamacha said, adding that one of Law and Ju...

MF sells bonds for over PLN 6 bln

The Ministry of Finance has sold treasury bonds valued at PLN 6.69 billion and, in exchange, purchased securities worth over PLN 6.44 billion, a statement by the ministry read.

Locked content Gov’t suspends 1.95% GDP spending rule on armaments

According to the amended 2015 budget bill, the Ministry of Finance will save PLN 209.5 million on suspending a spending rule, in line with which 1.95 percent of GDP has been earmarked for armaments. The move goes against pledges made during the electoral campaign, when PiS announced it will increase...

Locked content This year’s deficit increased by PLN 3.9 bln

This year’s budget deficit will be increased by PLN 3.9 billion to PLN 49.98 billion, compared with PLN 46.08 billion which was initially planned, said the Ministry of Finance. “According to up to date forecasts, the general government deficit may temporarily exceed three percent of GDP ...

Locked content Gov’t to increase 2015 budget deficit by PLN 3-4 bln

The government will increase the budget deficit during its Tuesday sitting by around PLN 3-4 billion, the Ministry of Finance said. The move is motivated by a PLN 12 billion gap in revenues. The Ministry said that revenue from VAT have been lower by PLN 13 billion, compared to the full year plan. Th...