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2005 - 2007 budget frames presented

THE FINANCE Ministry presented its 2005 - 2007 budget frames, under which the public finance deficit in 2005 should reach 3.8 percent of GDP. The targeted 3 percent level should be reached in 2007.

The 2005 public finance income should reach Sk287.5 billion (€7 billion) and expenditures should reach Sk340.3 billion (€8.4 billion), making a deficit of Sk52.8 billion (€1.3 billion), the Slovak daily SME wrote.

As of 2005, expenditures for the second capitalisation pillar of the pension reform will be included in the deficit under a recent decision by Eurostat. This will increase the future deficits by 0.7 percent in 2005, and by 1 percent in both 2006 and 2007.

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

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