February 29, 2020 / 11:55 AM / a month ago

Poland's state budget surplus was 3.4 billion zlotys in January - ministry

WARSAW (Reuters) - Poland’s state budget surplus was in excess of 3.4 billion zlotys (£675.82 million) at the end of January, the Finance Ministry tweeted on Saturday.

Poland’s ruling nationalist Law and Justice (PiS) party last month adopted a 2020 state budget that assumes no deficit according to Polish methodology.

Under the European Union method of calculating public finances, the general government deficit will amount this year to 1.2% of gross domestic product, well below the bloc’s ceiling of 3%.

The ruling party says it will be able to balance the budget as a result of its measures to tackle tax evasion. However, some analysts say the 2020 budget is built on a promise of one-off revenues and that some of them may not materialise.

Reporting by Marcin Goclowski; Editing by Mike Harrison

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