2003 budget draft booed by EU

THE FINANCE Ministry has introduced a state budget draft for 2003 that forecasts a deficit of Sk38 billion, or 3.5 per cent of GDP. Finance Minister František Hajnovič has said the EU is urging the government to reduce the shortfall to below 3 per cent of GDP, especially as the deficit forecast does not include bank restructuring costs or state loan guarantees.

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