WARSAW: Poland's newly sworn-in government said on Friday it will amend this year's budget bill due to lower revenues, increasing the deficit by 3-4 billion zlotys ($745-993 million) "VAT tax revenues for 2015 were as of November 26 lower than estimated in the budget bill by 13.3 billion zlotys," the finance ministry said in a statement.
"Other taxes brought in somewhat more revenue than assumed, however the overall gap stands at around 12 billion zlotys." "Assuming natural budget savings at a level from previous years, the amendment will increase the deficit by around 3-4 billion zlotys, with the amount to be specified based on detailed data from ministries."
The proposed amendment will be submitted to the government on Dec. 1, and then sent to the parliament, the ministry said.
After October, Poland's budget deficit stood at 34.5 billion zlotys.
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