BUSINESS BRIEFS

Budget deficit at Sk38 billion

THE STATE budget deficit for 2003 totalled Sk37.675 billion (€912 million) at the end of September, representing 67.2 percent of the full-year target of Sk56.037 billion (€1.363 billion), news wire TASR reported.

According to the Finance Ministry, budget revenues for the period stood at Sk163.405 billion (€3.976 billion), or 69.4 percent, up by Sk2.5 billion (€60.824 million) year-on-year.

Expenditures amounted to Sk201.08 billion (€4.892 billion), or 69 percent, for an increase of Sk4 billion (€97.319 million) over that of the first nine months of 2003.

Excise duties on fuel, tobacco products, and beer were hiked on August 1 in order to compensate for the lower-than-planned revenues from VAT and corporate tax

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