Finance minister: 9,2 billion PLN budget surplus after April
After April this year the state budget had a 9,2-billion-zlotys (approx. 2,03 billion euro) - Poland's Minister of Finance, Funds and Regional Policy Tadeusz Kościński announced. He also drew attention to the increase in VAT revenues in April, which to an extent came as a result of the statistical base effect.
According to data published by the Polish Press Agency (PAP), budget revenue in April equalled 147,1 billion zlotys, while expenses - 137,9 billion.
"In April this year, the budget revenues were higher than those of April 2020 by roughly 12,6 billion zlotys. The highest year-on-year growth was recorded with VAT and personal income tax. After April, the budget recorded a 9,2-billion-zloty surprlus (2,03 bln euro)" - said minister Kościński.
The VAT revenues in April this year amounted to 20,9 billion zlotys, which was 9,5 billion (83,3 percent) more year-on-year. Between January and April 2021, execution of VAT revenues equalled 69,7 billion zlotys and was 13,6 billion (24,3 percent) higher compared to the 2020 period. "The high VAT dynamic in April 2021 can be partially explained by the statistical base effect" - Kościński pointed out.
According to the Finance Ministry, revenues from the personal income tax were 3,8 billion (88,3 percent) higher year-on-year and amounted to 8,2 billion zlotys. Execution of PIT revenues equalled 22,6 billion zlotys and was higher by 4,8 billion (26,9 percent) than in the January-April period of 2020.
"The high increase in PIT revenues in April this year was partially caused by the low base effect - in April 2020 low revenues were recorded due to worsened socio-economic situation and postponement of the settlement date by 1 month" - the minister explained.
Revenues from the excise tax in April 2021 were higher than last year by 0,6 billion zlotys (11,2 percent) and amounted to 5,7 billion. For the January-April period, the 2021 excise tax revenues equalled approx. 21,5 billion zlotys and were lower than in 2020 by 0,2 billion (0,8 percent).
Revenues from the corporate income tax in April were higher than in 2020 by 1,1 billion (34,1 percent) and equalled 4,4 billion zlotys. Between January and April 2021 the CIT revenues amounted to 14,5 billion and were higher by 1,7 billion (12,8 percent) than in 2020. Just like in 2020, in April this year the revenues were not high as the yearly settlement date was moved to June 2021, the ministry informed.
According to the official data, non-tax revenues in April 2021 were lower than last year by 3,1 billion (35,6 percent) and amounted to 5,6 billion zlotys. For the January-April period, the non-tax revenues equalled 14,5 billion zlotys and were lower than in 2020 by 3,9 billion (21,1 percent).
At the end of March this year, the budget had a deficit of PLN 3,4 billion zlotys.
The budget act for 2021 assumes state revenues to amount to 404,4 billion zlotys, while expenditures to equal 486,7 billion, which allows a maximum deficit of 82,3 billion.
At the end of January this year, the budget had a surplus of 6,6 billion zlotys, and after February - of 876,3 million.
Źródło: TVN24 News in English, PAP
Źródło zdjęcia głównego: Ministry of Finance