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Poland’s budget surplus at EUR 5.79 bln at end-October – FinMin

Poland recorded a PLN 27.2-billion (EUR 5.79-billion) state budget surplus after the first 10 months of 2022, the Finance Ministry has said.

Poland’s budget revenue reached PLN 426.0 billion (EUR 90.67) in January-October 2022 and was PLN 20.3 billion (EUR 4.32 billion), or 5.0 percent higher compared to the same period of 2021, the ministry said in a statement published on Thursday, citing its chief economist Lukasz Czernicki.

Government spending reached PLN 398.7 billion (EUR 84.87 billion) in the same period and was PLN 27.2 billion (EUR 5.79 billion) higher compared to the first 10 months of 2021.

According to the budget law for 2022, the government’s revenues should reach PLN 491.9 billion (EUR 104.76 billion) while expenditures should be at PLN 521.8 billion (EUR 111.13 billion).

October’ s surplus was boosted by the central bank’s annual profit payout, which amounted to PLN 10.4 billion (EUR 2.21 billion). Most of the sum, PLN 9.58 billion (EUR 2 billion), will finance the recently-passed law on subsidies for coal for households.

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