“Between January and June 2025, state budget revenues amounted to PLN 264.3 billion, which is about PLN 39.6 billion (i.e. 13.0%) less than in the same period of the previous year. The budget deficit reached as much as PLN 119.7 billion. This means that in 2025, every single day, Tusk’s government was indebting us by more than PLN 661 million,” wrote PiS MP Mateusz Morawiecki on X.
A Growing Budget Gap
The Ministry of Finance recently published the latest data on the implementation of the state budget from January to June of this year. Revenues were significantly lower than expenditures.
Here are the figures:
- Revenues: PLN 264,251.5 million
- Expenditures: PLN 383,948.5 million
- Deficit: PLN 119,697.0 million
Morawiecki: “A Grim Picture”
PiS MP Mateusz Morawiecki responded to this data in a post on X. In his view, the figures “paint a grim picture of Poland’s public finances, the deepening budget hole, and the lack of a real plan to reduce the public finance sector deficit or to steer Poland out of the excessive deficit procedure.”
“Between January and June 2025, state budget revenues amounted to PLN 264.3 billion, which is about PLN 39.6 billion (13.0%) less than in the same period last year. The budget deficit reached as much as PLN 119.7 billion. This means that every day of 2025, Tusk’s government indebted us by over PLN 661 million. The execution of budget revenues is concerning, only 41.8% of the budget plan has been realized. Particularly alarming are revenues from VAT and excise duties, where execution is just under 39%,”
Morawiecki emphasized.
The former prime minister noted that “such weak results are puzzling despite consumption supporting economic growth (while investments, both public and private, remain weak), high inflation, and the VAT increase on food.”
“It can be assumed that revenues from this source will be around PLN 20 billion lower than what was projected in this year’s budget act. This, in turn, may necessitate amending the 2025 budget and increasing the planned deficit to over PLN 300 billion. The situation calls for close attention, as indirect taxes account for nearly 80% of all tax revenues in the state budget. According to economists, to meet the 2025 budget assumptions, revenue from these taxes in the second half of the year would need to average PLN 41 billion per month, significantly more than the PLN 34.5 billion monthly average from the first half,”
the politician stated.
He also argued that “even more puzzling is the decline in excise tax revenues, despite the drastic hikes introduced by Tusk and [Finance Minister] Domański on alcohol and tobacco products.”
“This means the hole in the budget hasn’t been patched from Polish wallets, and these irresponsible, sudden excise increases are expanding the grey market, something we already witnessed between 2011 and 2015. Let’s recall that tax mafias benefit most from the grey economy, while legally operating Polish businesses lose out. For now, the budget is being kept somewhat in check due to low expenditure execution compared to the plan, at 41.7%. However, we must remember that the budget cycle means the second half of the year is more demanding in terms of spending, and actual expenditures tend to rise,”
he warned.
The MP stressed that “this means that with the sluggish pace of revenue realization and growing expenditures, the budget deficit will continue to increase, endangering Poland’s debt position and further distancing Poles from the Maastricht criteria and a safe level of public finances.”
“The question is not if, but when we will exceed the 60% threshold of public sector debt relative to GDP. More and more signs suggest this risk may materialize as early as this year,”
he concluded.