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Cabinet approves final 2003 budget draft

The government has approved a final draft of the state budget for 2003, setting the fiscal deficit next year at Sk56.8 billion ($1.3 billion), or 4.9 per cent of GDP, on income of Sk235 billion and expenses of Sk291.8 billion.

Of the deficit, Sk10.7 billion will come from bank restructuring costs associated with the bad loans cut out of state financial houses before they were privatised from 2000-2002.

The deficit of the entire public sector should be Sk57.7 billion, or 5 per cent of expected GDP.

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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