PLN 59.4 bln deficit approved for 2017

The 2017 deficit, amounting to PLN 59.4 billion has been adopted. This is one of the lowest deficits in the last ten years, Deputy Prime Minister and Minister of Finance Mateusz Morawiecki stated in the Sejm on Wednesday. Morawiecki said that in 2009 the deficit was PLN 99 billion and in 2010, PLN 108 billion, which represented 7.5 percent and 7.9 percent of GDP respectively. “In this deficit we have not resorted to an instrument used for many years by our PO-PSL predecessors, namely loans to the Social Insurance Fund (FUS) instead of grants. Loans to FUS are not visible in the deficit, and so the deficit is artificially reduced,” Morawiecki pointed out.