FinMin: deficit slightly higher in 2016

In line with an amendment to the 2016 budget, Poland's deficit will stand at PLN 54.8 billion, compared with PLN 54.7 billion in a bill adopted by the PO-PSL coalition in September, finance minister Paweł Szałamacha announced, adding that it will not exceed 2.8 percent of GDP. The GDP growth forecast has been maintained at 3.8 percent and the annual average inflation at 1.7 percent. Expenses' limit will reach some PLN 368 billion and the revenue is not to exceed approx. PLN 313 billion. In November, Prime Minister Beata Szydło said that the next budget will encompass social projects, including the PLN 500 for every child program. The Prime Minister also said that the government expects new sources of revenues, such as the banking tax and large retailer tax.