Polish Government Approves Draft 2010 Budget
The budget bill which was passed by the cabinet yesterday leaves the
budget deficit intact at 52.2 billion zlotys, "large but safe." as
called by the Finance Minister Jacek Rostowski.
The government assumes budget receipts in 2010 at 248.87 billion zlotys
versus 245.50 billion zlotys in the earlier draft and increases
spending to 301.08 billion zlotys from 297.72 billion zlotys.
Budget revenues will be most affected by decrease in VAT receipts, tax
deductions for bio-components, increased excise on cigarettes as well
as PIT and CIT changes related to use of company cars, the statement on
the budget said.
Poland's economy will grow by 2.8% in 2011, 3% in 2012 and 3.4% in 2013, according to the approved budget bill .
I guess the consumer ends up paying the increases in taxation on Cigarettes, Beer, Wines and Alcohol as well as probable increase in Petrol prices.
Blog by Michael Clay
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