Biznes Fakty
State budget in increasing deficit
As of February 2025, the state budget deficit stood at PLN 36.3 billion, according to estimates from the Ministry of Finance. After January, the budget was short by PLN 3.2 billion.
The Ministry of Finance estimates that state budget revenues for the January – February 2025 period reached PLN 75 billion 718.8 million, which is approximately PLN 28.3 billion (or 27.2%) lower than the same timeframe last year (PLN 104.0 billion, which is 16.6% of the plan). Meanwhile, expenditures totaled PLN 112 billion 60.0 million during this period.
This results in a deficit of PLN 36,341.2 million.
As noted earlier by the Ministry of Finance, the state budget deficit after January 2025 was PLN 3,205.6 billion.
Budget revenues
In the first two months of 2025, tax revenues were recorded as follows:
- state budget – PLN 67.4 billion, which is approximately PLN 26.2 billion (or 28.0%) lower than the execution for January – February 2024;
- including VAT – PLN 63.5 billion, representing an increase of approximately PLN 9.2 billion (or 17.0%) year-on-year;
- from excise tax – PLN 12.9 billion, which is about PLN 0.3 billion (or 1.9%) lower year-on-year;
- from PIT – PLN 22.8 billion, which is approximately PLN 36.9 billion less compared to the same period in 2024 (if not for the local government revenue reform, state budget revenues from PIT would be around PLN 16.7 billion, or 17.9% more year-on-year);
- from CIT – PLN 10.1 billion, an increase of about PLN 1.3 billion (or 14.4%) compared to the January – February 2024 figures (if not for the local government revenue reform, state budget revenues from CIT would have been around PLN 11.4 billion, or 27.3% more year-on-year).
During the January – February 2025 period, non-tax revenues were PLN 8.2 billion, which is about PLN 2.3 billion (or 21.6%) lower than the previous year.
„When comparing state budget revenue data for PIT and CIT to the figures from 2024, it is important to note that as of 2025, the reform of local government financing has been implemented, altering the shares of local governments in PIT and CIT. Thus, the shares assigned to the state budget are not comparable across these years,” the Ministry of Finance stated in a press release.
Reportedly, the shares allocated to local government units for the January-February 2025 period reached PLN 53.5 billion, compared to PLN 12.2 billion transferred a year prior, marking an increase of PLN 41.3 billion (340.0%) year-on-year.
For the January-February 2025 period, total revenues of the public finance sector (comprising the state budget and local government units) from PIT amounted to PLN 30.7 billion, which is an increase of PLN 4.4 billion (16.7%) year-on-year. For January and February 2025, installments were calculated as 2/13 of the total shares planned for the year. All subsequent installments from March to November 2025 will represent 1/13 of the yearly planned amount.
For CIT, the shares allocated to local government units were PLN 2.3 billion in January and February 2025, compared to PLN 2.2 billion in the same months of 2024. The execution of state budget expenditures from January – February 2025 was PLN 112.0 billion, equating to 12.2% of the plan, and was higher by about PLN 0.2 billion (or 0.2%) compared to the previous year’s equivalent (PLN 111.9 billion, which is 12.9% of the plan).
MF ESTIMATES >>>
State budget expenditure
By the end of February 2025, the largest expenditures were recorded in the following areas of the state budget:
- Social Insurance Institution – PLN 21.5 billion, or 10.9% of the plan;
- National Defence – PLN 14.3 billion, or 11.6% of the plan;
- General subsidies for local government units – PLN 12
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