Next year's budget deficit planned at Sk61 billion

The Finance Ministry estimates that the Slovak state will require more than Sk600 billion (€14.2 billion) to run its services during 2004. Social security provider Sociálna Poisťovňa, which administers pension payments, will consume the most money from the state's purse next year.

The Finance Ministry, which has submitted the draft state budget for interdepartmental review estimates the budget gap at Sk61 billion (€1.44 billion) with total budget revenues at Sk249 billion (€5.9 billion) and expenditures at Sk311 billion (€7.36 billion).

The deficit of public finances is projected at 3.9 percent of the planned gross domestic product with a deficit of Sk50 billion (€1.18 billion).

Finance Minister Ivan Mikloš said that Slovakia's entry to the EU, changes to the country's social welfare system, and education financing have had the greatest impact on the draft budget.

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

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