BUSINESS IN SHORT

Finance Minister presents framework budget

FINANCE Minister Ivan Mikloš presented an outline for public administration budgets to the year 2009 on March 13. The document is non-binding on the next government to emerge from the June general elections, but lays out what any 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 believes that the economy is heading in the right direction, while the ministry increased the prognosis for next year's GDP growth by 0.3 points to 6.4 percent.

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

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

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