Government submits 2007-09 budget draft to parliament

THE GOVERNMENT delivered a public administration budget draft for the years 2007-2009 to Parliament on October 13 in compliance with the October 15 deadline for the sumbission of next year's budget.

Approved by the government earlier this week, next year's state budget estimates the deficit at Sk38.836 billion (€1.058 billion) on revenues of Sk308.064 billion and expenditures of Sk346.9 billion, TASR reported.

The total public finance deficit is set at 2.9 percent of GDP, which includes the impact of the reform of the pension capitalisation pillar, meaning that Slovakia can still meet the Maastricht criteria needed to qualify for adoption of the euro even after factoring the cost for the second pillar into the budget deficit.

Parliament is scheduled to vote on the submitted budget draft at its session beginning on December 5.

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