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Finance Minister presents framework budget to 2009

FINANCE Minister Ivan Mikloš presented an outline yesterday for public administration budgets to the year 2009. The document is not binding on the next government to emerge from the June general elections, but lays out what the government has to do in order to be able to adopt the euro in 2009.

The advisory budget document is characterized by a steady effort to reduce budget deficits. The minister said he believed that the economy is heading in the right direction, while the ministry increased its prognosis for next year's GDP growth by 0.3 percentage points to 6.4 percent.

"In this situation, public finances should focus on reducing the budget deficit and public debt," Mikloš said.

The ministry foresees a gradual decrease in the budget deficit from next year's 3 percent of GDP to 2 percent in 2009.

Compiled by Martina Jurinová from press reports
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