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.
11. Mar 2004 at 9:22