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State budget in good shape

The development of the state budget seems promising. For the first three months of 2004, the budget posted a surplus of Sk1.2 billion (€29.7 million) against last year's Sk18 billion (€445.8 million) deficit. The positive trend was enhanced by VAT collection. Corporate tax collections also improved by Sk2.5 billion (€61.9 million) year-on-year, the daily SME wrote.

Revenues rose by Sk20.585 billion (€509.8 million) year-on-year, reaching Sk66.945 billion (€1.7 billion) in late March, or 28.9 percent of the full-year target. Expenditures dropped by Sk1.572 billion (€38.9 million) to Sk65.747 billion (€1.6 billion), 21.2 percent of the annual projection.

However, Movement for a Democratic Slovakia (HZDS) deputy and former Finance Minister Sergej Kozlik warns that it is too early to celebrate the good results. He still sees budgetary risks and predicts complications with fulfilling the plans.

Finance Minister Ivan Mikloš is optimistic but at this point he does not see any reason to lower taxes.

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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