Cabinet unworried by budget deficit

Central bank governor Marián Jusko has said the state budget may finally overshoot its deficit target of Sk38 billion by only Sk7 billion, instead of the Sk10-11 billion the Finance Ministry estimates. Finance Minister František Hajnovič was even more optimistic, saying there was a chance the target might even be kept, meaning the next parliament formed after September 20-21 elections would not have to quickly amend the 2002 budget law.

Among the budget risks that remain is an expected Sk4 billion overshoot on social benefits spending. However, with the arrival on September 3 of Sk6.1 billion on the account of the central bank as part of a cash settlement of Russia’s debt to Slovakia, the cabinet has a Sk4 billion surplus to draw on.

Hajnovič would not say whether the Russian debt money would go towards shoring up public finances or to paying down Slovakia’s national debt.

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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