Cabinet passes 2008-2010 budget draft

The cabinet passed a draft proposal for the 2008-10 budget, with some reservations, on May 9. The approval had already been postponed twice before.

According to the proposal, the budget deficit will be 0.1 percentage points lower than the finance ministry forecast in 2006. The proposed deficit for 2008 will be 2.34 percent of GDP, falling to 1.84 percent in 2009, and 0.84 percent in 2010.

The final version of the budget proposal should be submitted by August 15, 2007. According to a preliminary estimate using the ESA 95 mechanism, Slovakia's budget deficit reached Sk55.4 billion (€1.7 billion) in 2006, which represented 3.4 percent of GDP.

This figure included the costs involved in introducing the second (capitalisation) pillar of the pension system, which came to Sk18.2 billion, or 1.1 percent of GDP.

The budget draft is based on the finance ministry's current macro-economic prognosis for the period to 2010, which predicts average economic growth of 6.3 percent, inflation of 1.9 to 2.4 percent, and an unemployment rate of below 10 percent.

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

Get daily Slovak news directly to your inbox

Top stories

News digest: Nationwide testing gained contours

The Defence Ministry reveals details on upcoming testing, removal of the STU rector was far from normal. Take a look at our latest news digest.

President Zuzana Čaputová meeting with scientists and experts on epidemiology, infectology and medicine.

Senate voted STU rector down. Police called to the uni as well

The session of the Academic Senate proposed that Rector Fikar be dismissed.

Miroslav Fikar

Dozens of people die of COVID every day. A drop not expected for at least two weeks

People who would otherwise survive may die of other serious diagnoses due to the epidemic.

Illustrative stock photo

Slovakia orders a curfew and embarks on its COVID experiment

High turnout in testing in four northern districts, decision awaited on extending the project to the nation. Prison for a prominent prosecutor and parliament's speaker injured.

Waiting for the results of COVID tests during the pilot phase of the nationwide testing in the town of Nižná in Orava, northern Slovakia.