Parliament approved the state budget for 2024; revenues are planned for around PLN 682.4 billion, expenditure for PLN 866.4 billion, and the deficit should not exceed PLN 184 billion. The budget law must be submitted to the President of the Republic of Poland for signature before January 29.
Work on the budget law
The Budget Law specifies the annual plan of income and expenditure, as well as state income and expenditure. The project assumes that state revenues for this year will amount to almost PLN 682.4 billion. The project assumes that almost PLN 603.9 billion in taxes will be collected. The expenditure limit set in the draft law for 2024 amounts to almost PLN 866.4 billion and is almost PLN 173 billion, or 24.9%, higher than the one planned in the amended Budget Law for 2023. Therefore, the budget deficit of the shall not exceed PLN 184 billion. The budget deficit of the European funds was set at PLN 32.5 billion.
The justification for the project indicated that, taking into account the financial plans of other units in the public financial sector, the predicted deficit of the financial sector according to the EU methodology in 2024 will be 5.1%. GDP.
After the Sejm adopts the budget, it will be discussed by the Senate, which will continue its session on January 24 and 25. If the upper house of parliament proposes amendments, the budget bill will have to be returned to the Sejm and – in accordance with the work schedule adopted by the Sejm Finance Committee – they will be considered during the plenary session on January 26. The president should – according to the schedule – receive the budget law for signature on January 29.
At the beginning of the session, the Sejm honored first- and third-term MP Barbara Frączek with a minute’s silence.
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WKT/PAP
Source: wPolityce