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State Budget deficit increases in September

Slovakia's state budget reported a deficit of Sk614.5 million in the first three quarters of this year.

Compared to August’s surplus of Sk401.7 million, the state budget gap widened by more than Sk1 billion in September.

In year-on-year comparison, the government's fiscal performance improved by more than Sk4.5 billion. Revenues stood at Sk228.545 billion at the end of September, representing 73.6 percent of the annual projection.

The nine-month expenditures amounted to Sk229.16 percent, which was 65.7 percent of the budgeted amount, the Finance Ministry informed.

The nine-month revenues were 7.7 percent higher year-on-year. Tax revenues grew 6.7 percent year-on-year to Sk182.736 billion, meeting the annual projections at over 73.7 percent. The collection of value added tax, which is the most important budget revenue, totalled Sk94.625 billion in the first three quarters of this year, up two percent year-on-year.

Almost all of these taxes goes to regional authorities.

Non-tax revenues amounted to Sk15.945 billion at the end of the ninth month, up 4.5 percent year-on-year.

Total state budget expenditures grew 5.5 percent, compared with the same period in the previous year. The biggest part of that is usually current expenditures, which went up by 5.1 percent to Sk204.281 billion. Capital expenditures stood at Sk24.878 billion, up 8.6 percent year-on-year.

-SITA

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

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