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2002 budget tight, 2003 budget questionable

The Finance Ministry has said the state budget deficit target could be overshot by Sk10-11 billion this year, and said that unless cabinet agrees today to cap spending, the 2002 state budget will have to be amended.

Meanwhile, Finance Minister Frantisek Hajnovic said that while the draft 2003 state budget is almost complete, the nation’s next government may not have time to approve it following September 20-21 elections, meaning a provisional budget for early next year.

The draft state budget for 2003 predicts a deficit of Sk38 billion on income of Sk224.1 billion and expenditures of Sk262 billion. Inflation is pegged at 6.3 per cent, GDP growth at 4.2 per cent and unemployment at 18.4 per cent.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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