Budget deficit at 40% of 2002 target

THE STATE budget deficit after the first quarter of 2002 was Sk15.2 billion, or 40 per cent of the full-year target of Sk38 billion. The Finance Ministry has said the goal is not in danger, as Sk9.3 billion of the 1Q02 sum was state bonds for bank restructuring.

The government has been warned recently by the International Monetary Fund to cut splanned spending or risk not making its deficit target.

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