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Polish Lower House of Parliament Approves 2013 Government Budget

Poland’s lower house of parliament approved the government’s 2013 budget, which foresees a deficit of 35.6 billion zloty ($11.3 billion).

The budget includes revenue of 299.4 billion zloty and spending of 335 billion zloty. The 2012 deficit is planned at 35 billion zloty. The upper house Senate must also pass the bill before President Bronislaw Komorowski signs it into law.

While the budget forecasts economic growth of 2.2 percent next year, the government lowered its prediction to 2 percent after sending the draft to parliament, Deputy Finance Minister Wojciech Kowalczyk said in interview on Dec. 6.

Poland is seeking to raise 5 billion zloty from asset sales next year to help finance the deficit. Among the biggest offerings will be power utility Energa SA, insurer PZU SA, PKO Bank Polski SA and property holding company Grupa PHN SA.

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