State budget deficit 12.4 bilion Sk at end September

The state budget ended the first nine months of 1999 with a 12.4 billion Slovak crown deficit, four billion up on the 8.4 billion deficit recorded in the first nine months of 1998.

Revenues from January to September 1999 were 140.9 billion crowns. Customs duties and collected corporate and individual taxes fell below expectations. The 7% import surcharge imposed as of June 1 brought nearly 4.5 billion crowns into the state pocket.

Expenditures totaled 153.3 billion crowns, of which capital expenditures were 12.3 billion, more than the total projected for the whole of 1999.

The state budget for 1999 expects revenues of 180 billion crowns and expenditures of 195 billion crowns, for a deficit of 15 billion at year end. Austerity measures enacted by the Slovak cabinet this summer should bring an additional 17 billion crowns into the state budget.

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