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Budget beats target

THE STATE budget deficit reached Sk44.4 billion at the end of 2001. When bank restructuring costs of Sk8 billion are subtracted, the deficit comes to Sk36.3 billion, Sk872.6 million lower than originally planned and Sk300.8 million lower than the revised target, said Peter Papánek, spokesman for the Finance Minister.

The revenues of the state budget for 2001 totalled Sk205.4 billion and expenditures stood at Sk249.7 billion. Revenues exceeded the projected figure by 13.7 per cent, although they were down Sk8.1 billion on the same period in 2000.

The budgetary performance reflected a Sk7 billion higher-than-planned collection of tax revenues, a Sk3.5 billion higher collection of non-tax revenues, and Sk660.7 million higher revenues from loan repayment and sale of capital interests. It was also decisively influenced by grants and transfers (Sk13.7 billion).

Expenditures were almost Sk32 billion above the original projection and Sk13.7 billion above the adjusted figure. Current expenditures were Sk11.6 billion higher than originally planned, and Sk2.9 billion above the revised figure. Capital expenditures exceeded the original projection by Sk12.1 billion, and were Sk10.7 billion above the adjusted plan.

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