MF: Budget deficit at PLN 46.3 billion in 2016

The state budget deficit in 2016 amounted to PN 46.3 billion, which was 84.6 percent of the amount planned in the budget, the Ministry of Finance reported when presenting its preliminary estimates. The state budget deficit was higher by PLN 3.7 billion in relation to the deficit for 2015 (PLN 42.6 billion). "Income was greater than the value established in the budget. It was almost 9 percent higher than that for 2015 and nearly PLN 1 billion higher than in the budget," said Deputy Finance Minister Leszek Skiba during a press conference. He added that the increase in income was due to an increase in tax revenue from individuals and higher revenues from excise duties.