2006 deficit on course to beat expectations

So far the Ministry of Finance has claimed that the real deficit at the end of 2006 will amount to zl.27-27.5 billion, but the November data indicates that the deficit may be even smaller. In November the deficit amounted to 60.7% of the figure laid down in the budget bill. The data from December, although they are not complete yet, show that budget revenue amounted to approximately zl.198 billion, as compared to zl.195.3 billion provided for in the budget bill. According to estimates, for the first time in several years revenue from VAT will not be lower than the government had assumed - zl.84.5 billion. Revenue from PIT also beat government estimates, amounting to zl.28.7 billion, zl.2.5 billion more than had been assumed. The final deficit depends on expenditures in December, the sum of which has not been calculated yet. (Parkiet, 2 January, p. 15) E.B.