IN SHORT

Analysts warm to 2003 budget plans

ECONOMIC analysts agree that the 2003 state budget proposal published by the Finance Ministry on October 14, forecasting a deficit at 4.8 percent of GDP, is the most transparent, realistic and inclusive Slovakia has had to date.

The budget, which is calculated according to the 'ESA 95' methodology of the European Union, for the first time includes billions of crowns in bank restructuring costs, which had previously been omitted from budgets calculated according to International Monetary Fund methods.

On the other hand, the 2003 budget draft does not include suspect one-off income such as privatisation revenues or debt settlement proceeds from Russia.

The analysts generally agree that the ministry, which was taken over on October 16 by new boss Ivan Mikloš, has been modest in its macroeconomic targets for next year.

The incoming cabinet plans to reduce state budget expenditures in 2003, including scrapping scheduled civil service pay rises, in order to keep the public finance deficit at the targeted Sk55 billion.

The Finance Ministry in its prognosis expects Slovak economic growth to slow slightly next year from 3.8 to 3.7 per cent, while inflation will jump from 3.8 per cent in 2002 to 8.8 per cent and unemployment fall from 18.3 per cent this year to 18 per cent in 2003.

Get daily Slovak news directly to your inbox

Top stories

Cabinet agrees on COVID screening

More details will be presented tomorrow.

Košice

More tips for outings in Bratislava during the lockdown

Walks along the Danube bank offer a feeling of being far from the city rush.

This place, part of Ovsištské Lúky (Ovsište Meadows) in Petržalka, is still Bratislava.

Roundup: Fairytale app that makes children read

An award-winning design by a Slovak architect and a trip to Zádielska dolina valley. Here’s your latest roundup.

A man wearing a face covering sits in an armchair on the snow-covered Main Street in Košice on January 13, 2021.

Police investigate surveillance of journalist, IPI calls for utmost seriousness

Police launch criminal prosecution after Denník N reporter said she was followed and opposition MP Robert Fico wrote about her private life.

l-r: Head of Let's Stop Corruption Foundation Zuzana Petková, journalist Monika Tódová, journalist Adam Valček, and Xénia Makarová of the Let's Stop Corruption Foundation