Wednesday, May 14, 2008

Finance ministry allegedly to almost halve central budget deficit in 2009.

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Finance ministry allegedly to almost halve central budget deficit in 2009. The finance ministry plans to slash the central budget deficit to PLN 14.5bn next year compared to PLN 27.1bn written into this year’s budget law, the daily Rzeczpospolita reported. However, deputy finance minister Elzbieta Suchocka-Roguska told the daily that the ministry was just starting its works on the 2009 budget and could not state the ultimate level of next year’s budget deficit. If Rzeczpospolita -presented plan was implemented, chances for 15% wage rises for the public sector’s employees, demanded by trade unions, would be slim, as at the same time the government has to find more than PLN 10bn to cover for the costs of lowering PIT rates to 18% and 32% from 19%, 30% and 40% as well as for keeping the PLN 1,150 tax allowance per child. Earlier, the finance ministry said that the 2009 budget guidelines stipulate for GDP growth of 5.0% (against this year’s plan of 5.5%) and average annual inflation of 2.9% (3.5%). tom

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Finance ministry allegedly to almost halve central budget deficit in 2009.

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