Finance Ministry: Budget deficit of €1.97 billion in June

Slovakia’s state budget at the end of June posted a deficit of €1.97 billion, an increase of 18.3 percent year-on-year.

Slovakia’s state budget at the end of June posted a deficit of €1.97 billion, an increase of 18.3 percent year-on-year.

Compared to the same period of last year, budget revenues increased by €267.2 million, the TASR newswire quoted the the Finance Ministry press release. At the same time, budget expenditures went up by €572.2 million. Therefore, after six months, the state spent 42.1 percent of the sum planned for the entire year, which is 3.4 percentage points less than at the same time last year.

The total increase in tax revenues amounted to €136.6 million y-o-y due to improvements in VAT collection (up €51.5 million), excise tax collection (up €9.7 million), taxes on personal income (up €39.8 million) and corporate taxes (up €31.4 million).

“State income from revenues from dividends increased by €69.1 million,” the statement reads. “A negative trend was recorded for incomes from the EU budget, which decreased by €295.2 million y-o-y.”

Expenditures related to servicing the state debt increased by €202.4 million y-o-y in June, as state bond coupons with a value of €185 million were paid in April.
Payments towards the EU budget increased by €300,000 y-o-y in June.

In June alone, the gap widened by over €90 million and by nearly €350 million in yearly terms, the SITA newswire wrote.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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