Poland's lawmakers approve 2014 state budget with slightly lower deficit

WARSAW, Poland – Poland’s lawmakers have approved the 2014 budget that predicts the deficit will be slightly lower than this year’s.

The state budget approved Friday allows a deficit of no more than 47. 6 billion zlotys (11 billion euros, $15.6 billion), or 2.8 per cent of GDP. The 2013 deficit estimate was raised in September to 51.6 billion zlotys from 35.6 billion zlotys, after budget income turned out to be lower than expected.

In 2014, the government is expecting revenue of almost 277 billion zlotys, while spending is not seen exceeding 324.6 billion zlotys. The economy is forecast to grow 2.5 per cent, compared with 1.5 per cent growth expected this year, while inflation is seen reaching 2.4 per cent.

Approvals from the upper house and the president are still needed, but are considered formalities.