Poland’s 2023 budget deficit lower than forecast

WARSAW: Poland’s budget deficit for 2023 came in below the government’s forecast, finance ministry data showed on Friday, due in part to lower than expected public spending.

The ministry estimated the deficit was 85.57 billion zlotys ($21.57 billion), lower than the 92.0 billion zlotys pencilled into the revised 2023 budget.

The finance ministry said in a statement that the biggest savings had been in pre-financing European Union projects and guarantee programmes, and on social insurance.

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In 2024 Poland sees a deficit of 184 billion zlotys, higher than previously forecast as the new government implements policies such as public sector pay rises.