State expenses grow faster than revenues

SLOVAKIA’s state budget deficit after the first seven months of this year reached €2.153 billion. It swelled by 32.4 percent in yearly terms and rose by over €180 million just in July alone.

SLOVAKIA’s state budget deficit after the first seven months of this year reached €2.153 billion. It swelled by 32.4 percent in yearly terms and rose by over €180 million just in July alone.

Revenues of the state budget increased by the end of July by 3 percent to €6.356 billion, while expenses grew 9.1 percent to €8.509 billion. Revenues for the whole year are expected to reach €14.108 billion, while expenses should total €17.392 billion, according to the SITA newswire.

Tax revenues have grown by 2.1 percent to €5,162 billion since the beginning of the year, while VAT collection has especially improved, as well as income from dividends. The only negative development was in resources stemming from EU funds, which decreased from €337.4 million to €330.2 million in a year-on-year comparison.

“Lower transfers were the result of temporary suspension of payments within some operational programs,” said the Finance Ministry, as quoted by SITA. “The European Commission might decide on unblocking interim payments in the fall.”

Compiled by Spectator staff from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

 Danubiana Meulensteen Art Museum

Slovak art dabbles in diversity

ADMIRERS of Andy Warhol might have already marked Slovakia on their map since the king of pop art was of Slovak origin. The country is rich in artistic tradition and boasts a large number of art galleries and…

A long wait is in store for foreigners seeking residence permits.

Interior Ministry still approaches foreigners in Slovak

IN ORDER to avoid endless waiting lines in Bratislava’s Office of the Border and Alien Police, the police called on foreign students to prolong their stay. However, foreigners not speaking Slovak may have difficulty…

The AeroMobil 3.0

Government okayed support for flying car development

BRATISLAVA-based company AeroMobil R&D, which is engaged in the development of a flying car, will be granted investment assistance of nearly €6 million from state coffers towards research and development activities,…

Slovakia in for tropical days, temperatures may reach 38 degrees

PEOPLE in Slovakia will have to prepare for some very hot weather in the days ahead, with the temperature possibly rising to 36 degrees Celsius in southern regions this weekend and to 38 degrees next week, Jozef…