Spectator on facebook

Spectator on facebook

Finance Ministry's latest macro-economic report approved

The public finance deficit for 2007 will probably reach only 2.5 percent of the GDP. But if Eurostat asks for the National Highway Company (NDS) has to be included in the figures, the Finance Ministry's estimate will go up by 0.2 percentage points.

That’s according to the Report on the Macro-economic Environment and Development of Public Finances for the first three-quarters of 2007, and predictions of developments to the end of the year, approved by the government at its session on November 7. The overall public deficit will be cut by Sk7.1 billion (€214 million) to Sk45.7 billion.

The report said the state budget made the greatest contribution (Sk8 billion) to the reduction of the deficit, through cuts in spending on servicing the state debt, higher-than-expected tax receipts, and revenues from the National Property Fund (FNM). The financial situation at state insurer Sociálna Poisťovňa, state health-insurance companies and regional governments are expected to have the opposite effect.

The ministry says the most recent prognoses confirm expectations of positive trends in the Slovak economy. It expects that GDP growth for all of 2007 will reach 8.8 percent, 1.4 percentage points higher than the figure stated in the budget estimate.

According to the ministry, the important fact is that the Maastricht inflation criterion was met by August. Twelve-month average harmonised inflation reached 2.4 percent year-on-year in August, which is below the reference value of 2.6 percent.

-TASR

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

Top stories

Night life in Bratislava will not end

Councillors for the Old Town adopt new opening hours for pubs, night clubs and restaurants.

Cvernovka's creative talents celebrate first open day at new premises Photo

Bratislava's art and design ateliers from the old yarn-making factory open their doors on May Day.

New premises for Cvernovka

How social networks can earn you a ticket to Germany

Can a status on a social network change someone’s life? Yes, if you write humorous stories about a fictive German ambassador.

Assaf Alassaf (r) talked about his life and his book in Bratislava

New investor to create 500 jobs in Nitra

A company following the Jaguar Land Rover carmaker to Nitra plans to create 500 new jobs and invest €17 million.

Tha Jaguar Land Rover draws also other investors to Nitra.