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ECONOMIC BRIEFS

Slovak budget deficit falls in November

Slovakia's 1999 state budget deficit, as of the end of November, fell to 11.8 billion Slovak crowns from 12.4 billion crowns in October, the Finance Ministry said on November 29. The Slovak government is targeting a state budget deficit for 1999 of 15 billion crowns, about 2% of gross domestic product.

However, the country's overall public sector deficit in the first three quarters of 1999 did not show such encouraging development, hitting 19 billion crowns ($447 million) compared with a 15.7 billion crown deficit in the same period last year.

The ministry's quarterly public finance review showed the central government had accounted for the largest share of the deficit, with 12.4 billion crowns in January to September. State social funds ran a deficit of 6 billion crowns this same period, compared with a 0.8 billion crown deficit in 1998.

This year, the government projects a public sector deficit of 24 to 26 billion crowns, or about 3.3% of gross domestic product.

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