President signs law amending 2016 budget

On Tuesday, President Andrzej Duda signed the law of October 20, 2016 amending the budget act for 2016, the Chancellery of the President announced. The law authorizes the Minister of Agriculture and Rural Development to pay out advances this year of 70 percent on direct payments to agricultural producers. This involves reducing planned budget revenues from EU funds under the Common Agricultural Policy by PLN 8.97 billion and increasing the budget deficit of European funds by the same amount. Because the amendment only applies to the deficit of EU funds, it does not impact the public finance sector deficit according to the ESA2010 system.