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BUSINESS SHORTS

Slovakia's government deficit in 2006 3.6% of GDP

SLOVAKIA'S general government deficit in 2006 was Sk59 billion, according to the Finance Ministry's preliminary figures that were calculated according to European System of Accounts 95.

This accounts for 3.6 percent of Slovakia's GDP, including the effects of the implementation of the 'capitalization pillar' in the pension scheme.

The government's financial performance was 0.6 percentage points better than the approved budget. The introduction of the capitalization pension pillar contributed Sk18.2 billion to the general government deficit, which equals 1.1 percent of GDP. Calculated without the effects of the pension reform, the deficit only came to 2.5 percent of GDP.

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