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Poland recorded a PLN 18.3-billion (EUR 3.94-billion) state budget surplus after the first 11 months of 2022, the Finance Ministry has said.
Poland’s budget revenue reached PLN 464.5 billion (EUR 100.11 billion) in January-November 2022, the ministry said in a statement published on Friday.
This includes VAT revenues at PLN 211.8 billion (EUR 45.67 billion), excise tax revenues at PLN 72.7 billion (EUR 15.67 billion), PIT revenues at PLN 63.5 billion (EUR 13.69 billion) and CIT revenues at PLN 65 billion (EUR 14.01 billion) between January and November this year.
Government spending reached PLN 446.3 billion (EUR 96.15 billion) in the same period, according to the ministry estimates.
According to the budget law for 2022, the government’s revenues should reach PLN 491.9 billion (EUR 106.06 billion) while expenditures should be at PLN 521.8 billion (EUR 112.47 billion).
November’s surplus was boosted by the central bank’s annual profit payout, which amounted to PLN 10.4 billion (EUR 2.24 billion). Most of the amount, PLN 9.58 billion (EUR 2.07 billion), will finance the recently-passed law on subsidies for coal for households.