Polish Briefing 30 August, 2017 9:00 am   
Editorial staff

Polish Briefing: State budget income in 2017 will be higher than planned by PLN 18.4 bn

What goes on in Poland on the 30th of August.

State budget income in 2017 will be higher than planned by PLN 18.4 bn

According to the justification for the 2018 budget the state budget income in 2017 will be higher by PLN 18.4 bn than planned. The net borrowing needs in 2017 will be PLN 53 780,5 m.

“It is forecast that the 2017 state budget income will be higher than it was initially planned in the Budget act by about PLN 18.4 bn. The expected surplus stems mostly from the anticipated higher VAT income and a higher payment from the National Bank’s income,” the document said.

“Since the Act on retail sales tax has been suspended on the basis of the Act from 15 November 2016 on the amendment to the act on retail sales tax, the planned income from the tax will not be included in the budget,” the document explained.

In the 2017 budget the non-tax revenues will be higher than planned by about PLN 8.4 bn.

Szydło: Modern mining is the future of Poland’s economy  

“The mining industry is very important for the Polish economy and will remain important, but it will be a modern mining sector,” Prime Minister Beata Szydło said on Tuesday in Katowice. “This is the mining industry we want and we are developing,” she added.

Szydło took part in the opening ceremony of the International Fair for Mining, Power Industry and Metallurgy KATOWICE 2017. “The fair shows there exists a plethora of state-of-the-art technologies in the mining industry. This is the future of the Polish mining and the future of the Polish economy,” the head of the government said.

She also added this was an occasion to send a message from Katowice “from Silesia’s capital city and the capital city of Polish industry and mining,” that mining is extremely important for the Polish economy and that the industry will be modernized.

The Prime Minister also stressed that one of the first tasks her government had to face were the problems of the mining industry and its reform, but also the necessity to offer the sector a future. She said the government succeeded at doing this.

Russian media: Schroeder may chair Rosneft’s Board of Directors 

“Germany’s former Chancellor Gerhard Schroeder who is competing for a position at Rosneft’s Board of Directors may actually become its chairman,” reported Russia’s Kommiersant daily.

The newspaper cites a draft directive of the Russian government on the issue. The justification added to the draft says that Schroeder “is an international politician with authority who consequently supports the strategic cooperation between Germany and Russia in the energy sector.”

“Additionally, the former Chancellor has exceptional competences and experience of an independent director in the biggest oil and gas companies both Russian and international,” the document continued.

According to Kommiersant the current Chairman of the Board of Directors Andrey Belousov, advisor to President Vladimir Putin is also running for the position as a government candidate. The daily suspects that Belousov will step down and let Schroeder take over the reins, which, according to the newspaper’s sources, is the Russian authorities’ way of mitigating the conflict between Belousov and Rosneft’s CEO Igor Sechin.