Gov’t budget with PLN 9.3 bln surplus at end-April

The Ministry of Finance informed that Poland recorded a budget surplus of PLN 9.3 billion at end-April. The income after four months of 2018  amounted to PLN 125.2 billion, or 35.2 percent of the planned budget income. During that period, PIT revenues increased by 17.9 percent y/y, while CIT revenues were up by 15.4 percent y/y. "High incomes from PIT result from a good situation on the labor market and high tax payments from people running a business," the Ministry specified. The Ministry expects that after Q2 the budget will still have a surplus, but it will fall to PLN 2.6 billion. At the end of Q3, a deficit of PLN 5.4 billion is forecasted, and the year should end with a deficit of PLN 41.5 billion.