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Parliament clears 2014 budget
13 Dec 2013 Flash News
Parliament approved the state budget for 2014, with the deficit projected to reach 2.64 percent of GDP. Eighty-one out of 145 MPs in the chamber voted for the bill, while 62 were against it December 12.
The parliamentary debate on the bill featured mostly opposition MPs. They claimed that the budget only creates an illusion of consolidation and only introduces one-off savings measures. The opposition opines that the budget fails to secure the long-term sustainability of public finances. The MPs also bemoaned the state debt’s approaching 57 percent of GDP. If that threshold were breached, Finance Minister Peter Kažimír would need to submit a balanced budget, which the opposition deems impossible in the current situation.
The public deficit is likely drop below 3 percent of GDP in 2014, in line with goals set by the government for next year, a number of analysts concurred for TASR.
According to some analysts, a major problem of the budget is that it hinges on one-time measures and, therefore, the government will likely have to embrace new reforms in 2015.
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