Budget deficit after seven months hits zl. 11.3 billion, still on target for 2000

The Finance Ministry said yesterday that the deficit increased to zl. 11.3 billion at the end of July which is 73.4% of the budgeted amount of zl. 15.4 billion for the year. Last year the deficit reached 97.2% of projections after July. After seven months of this year, government revenues reached zl. 74.8 billion, which is 53% of forecasts. Higher budget revenues were due to corporate tax contribution, but personal tax revenues were lower than predicted. Privatization revenues have reached zl. 5.1 billion. The Treasury has already spent zl. 86.1 billion of a total planned expenditure of to zl. 156.3 billion. Part of that has been used to pay 64% of the budgeted amount to service the national debt and 77% of the budgeted Labor Fund contributions. (Gazeta Wyborcza, page 18)